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- Social_Security_Wage_Base abstract "For the Old Age, Survivors and Disability Insurance (OASDI) tax or Social Security tax in the United States, the Social Security Wage Base (SSWB) is the maximum earned gross income or upper threshold on which a wage earner's Social Security tax may be imposed. The Social Security tax is one component of the Federal Insurance Contributions Act tax (FICA) and Self-employment tax, the other component being the Medicare tax. It is also the maximum amount of covered wages that are taken into account when average earnings are calculated in order to determine a worker's Social Security benefit.In 2010, the Social Security Wage Base was $106,800 and the Social Security tax rate was 6.20% paid by the employee and 6.20% paid by the employer. A person with $10,000 of gross income had $620.00 withheld as Social Security tax from his check and the employer sent an additional $620.00. A person with $110,000 of gross income in 2010 incurred Social Security tax of $6,621.60 (resulting in an effective rate of approximately 6% - the rate was lower because the income was more than the 2010 "wage base", see below), with $6,621.60 paid by the employer. A person who earned a million dollars in wages paid the same $6,621.60 in Social Security tax (resulting in an effective rate of approximately 0.66%), with similar employer matching. In the cases of the $110k and $1m earners, each paid the same amount into the social security system, and both will take the same out of the social security system.".
- Social_Security_Wage_Base wikiPageExternalLink 0308miller.html.
- Social_Security_Wage_Base wikiPageExternalLink cbb.html.
- Social_Security_Wage_Base wikiPageExternalLink index.html.
- Social_Security_Wage_Base wikiPageID "4994437".
- Social_Security_Wage_Base wikiPageRevisionID "598684944".
- Social_Security_Wage_Base hasPhotoCollection Social_Security_Wage_Base.
- Social_Security_Wage_Base subject Category:Social_Security_(United_States).
- Social_Security_Wage_Base subject Category:Taxation_in_the_United_States.
- Social_Security_Wage_Base comment "For the Old Age, Survivors and Disability Insurance (OASDI) tax or Social Security tax in the United States, the Social Security Wage Base (SSWB) is the maximum earned gross income or upper threshold on which a wage earner's Social Security tax may be imposed. The Social Security tax is one component of the Federal Insurance Contributions Act tax (FICA) and Self-employment tax, the other component being the Medicare tax.".
- Social_Security_Wage_Base label "Social Security Wage Base".
- Social_Security_Wage_Base sameAs m.0cyz3c.
- Social_Security_Wage_Base sameAs Q7550836.
- Social_Security_Wage_Base sameAs Q7550836.
- Social_Security_Wage_Base wasDerivedFrom Social_Security_Wage_Base?oldid=598684944.
- Social_Security_Wage_Base isPrimaryTopicOf Social_Security_Wage_Base.