Tag Archives: Social Security
Social Security Benefits
Social Security income used to be tax-free to all, but that’s no longer so. Depending on your other income, you could wind up paying tax on up to 85% of your Social Security benefits, at a time when you need … Continue reading
Social Security wage base increases to $117,000 for 2014
The wage base for computing the Social Security tax (OASDI) in 2014 increases to $117,000 from $113,700, which was the wage base for 2013. The $3,300 increase, which is about 2.9%, is due to an increase in average total wages.
Social Security wage base expected to rise to $115,500 for 2014
The Social Security Administration’s Office of the Chief Actuary (OCA) has projected that the Social Security wage base will increase from $113,700 for 2013 to $115,500 for 2014. The 2014 projections were included as part of the annual report to … Continue reading
Social Security Wage Base Increases For 2013
As we wait for Congress to decide how they will address the “fiscal cliff”, we thought it would be a good time to update you on some of the increased limits applicable to 2013. The Social Security Wage Base increases $113,700 for … Continue reading
Social Security wage base increases to $110,100 for 2012
The Social Security Administration has announced that the wage base for computing the Social Security tax (OASDI) in 2012 increases to $110,100 from $106,800, which was the wage base for 2009 through 2011. The $3,300 increase, which is about 3%, … Continue reading
Expect Higher Social Security Tax Wage Base in 2011
No great surprise that we anticipate Social Security to “run out of money”. Based on the newly released Social Security Administration (SSA) forecasts, Social Security will not be able to fully pay the scheduled benefits in 2036. This is a … Continue reading
