Social Security Tax Facts

The wage base for 2017 has increased to $127,200.
This is the maximum amount of earnings subject to the Social Security tax.

Up to 85% of your Social Security benefits may be taxable.

If you are married and file a separate federal tax return:
Your Social Security benefits will likely be taxable.

*If you file a federal tax return as an individual:
If your combined income is between $25k and $34k, up to 50% of your Social Security benefits may be subject to income tax. If your combined income is more than $34k, up to 85% of your benefits may be taxable.

*If you file a federal joint return:
If you and your spouse have a combined income between $32k and $44k, up to 50% of your Social Security benefits may be subject to income tax. If you and your spouse have a combined total over $44k, up to 85% of your benefits may be taxable.

*Based on currently available information – subject to change.

Source: www.ssa.gov

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