Maximum social security tax 2018

In 201 the most you can collect in Social Security benefits is 69 regardless of your age. While it s true that Social Security is designed to replace approximately of a retiring worker s pre-retirement income, that figure is based on the average American s income. When you earn income, including through self-employment, that is covered by Social Security, you pay Social Security taxes each year up to a maximum amount that is set by law.

While the maximum Social Security tax for 20is 96 only a small percentage of taxpayers have incomes high enough to pay the maximum. This maximum amount, known as the Social Security tax earnings cap, is adjusted annually to keep up with inflation. In 201 for example, just of workers earned more than the capped amount, according to the National Academy of Social Insurance.

Dec 1 20While the maximum Social Security tax for 20is 96 only a small percentage of taxpayers have incomes high enough to pay the maximum.

For 202 the maximum amount of taxable earnings is 13700. Causes of Pain on the Left Side of Your Neck MD. 5Dental Implant Services The Best Dental Implant Value in the Chicago-land Area, Why?

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