Sentences with phrase «exceed social security taxes»

In 1996, OASDI benefit payments exceeded Social Security tax revenues by $ 30 billion, or 1 percent of taxable earnings (see box 1).

Not exact matches

If your combined income exceeds $ 44,000, then up to 85 % of your Social Security benefits could be taxed.

If your combined incomes exceed $ 34,000, then up to 85 % of your Social Security benefits could be taxed.

Unemployment is taxable income for federal tax purposes, while Social Security is only taxable if your income from certain sources exceeds a specified threshold.

You owe SE Social Security tax 12.4 % on your adjusted SE net income unless and until the total income subject to FICA+SECA, i.e. your W - 2 wages plus your adjusted SE net income, exceeds a cap that varies with inflation and is $ 127,200 for 2017.

As of 2017, that number is $ 127,200 — if your earned income exceeds that amount, you won't pay the Social Security tax on the remainder.

Social Security income is not taxed unless your other income exceeds a certain limit.

If your base income exceeds the limit for your filing group, you'll have to pay taxes on some of your Social Security benefits.

The federal government taxes a portion of Social Security benefits if taxpayer income exceeds an allotted amount.

The federal government taxes Social Security benefits if your income exceeds a certain level.

Your Social Security may be taxed if you earn income from other sources and your MAGI exceeds the base amount for your filing status.

And whatever your age, up to 85 % of your Social Security benefits could be subject to income tax if the value of your Social Security plus other income exceeds certain thresholds.

Of the 169 million workers with earnings in Social Security — covered employment in 2015, about 6 % had earnings that equaled or exceeded the maximum amount subject to taxes, compared with 3 % when the program began and a peak of 36 % in 1965.

Finally, single people whose combined income exceeds $ 34,000 and married couples with a combined income over $ 44,000 will have 85 % of their Social Security benefits taxed.

If your annual salary exceeded the maximum amount subject to Social Security tax for 2013 ($ 113,700 as per JoeTaxpayer's comment), then it is possible that the last paycheck is what put you over the limit.

Even if your income exceeds the means testing limits, you are still required to pay Social security (FICA) taxes...

In the case of Social Security, when half of your Social Security benefits plus other income exceed $ 25,000 ($ 32,000 if married filing joint) your benefits start to become taxable, until 85 % of your benefits are fully taxed.

This is 12.4 % for Social Security unless / until your total earned income exceeds a cap (for 2017 $ 127,200, adjusted yearly for inflation), and 2.9 % for Medicare with no limit (plus «Additional Medicare» tax if you exceed a higher threshold and it isn't «repealed and replaced»).

If your total taxable income exceeds a certain threshold — $ 25,000 for single filers, $ 32,000 for joint filers — then your Social Security benefits may be taxed.