what the max. social security taxes you pay in a year?

Answer 1

The 6.2% social security tax is collected on the first $94,200 of income for a maximum of $5840.40.

The 1.45% Medicare tax has no maximum.

Answer 2

Social Security premiums are based on the amount of money you make. It's like taxes. The more you make the more they take out and it's done each pay period. not a whole year. Call Social Security or go on their website under Social security and wages. Good luck.

Answer 3

2006 Social Security Changes
Cost-of-Living Adjustment (COLA): Based on the increase in the Consumer Price Index (CPI-W) from the third quarter of 2004 through the third quarter of 2005, Social Security and Supplemental Security Income (SSI) beneficiaries will receive a 4.1 percent COLA for 2006. Other important 2006 Social Security information is as follows:


Tax Rate 2005 2006
Employee 7.65% 7.65%
Self-Employed 15.30% 15.30%
NOTE: The 7.65% tax rate is the combined rate for Social Security and Medicare. The Social Security portion (OASDI) is 6.20% on earnings up to the applicable taxable maximum amount (see below). The Medicare portion (HI) is 1.45% on all earnings.

Maximum Earnings Taxable: 2005 2006
Social Security (OASDI only) $90,000 $94,200
Medicare (HI only) No Limit

Quarter of Coverage: 2005 2006
$ 920 $ 970

Retirement Earnings Test Exempt Amounts: 2005 2006
Under full retirement age
NOTE: One dollar in benefits will be withheld for every $2 in earnings above the limit. $12,000/yr.
($1,000/mo.) $12,480/yr.
($1,040/mo.)
The year an individual reaches full retirement age
NOTE: Applies only to earnings for months prior to attaining full retirement age. One dollar in benefits will be withheld for every $3 in earnings above the limit. $31,800/yr.
($2,650/mo.) $33,240/yr.
($2,770/mo.)
There is no limit on earnings beginning the month an individual attains full retirement age (65 and 6 months for retirees born in 1940; 65 and 8 months for those born in 1941).

Social Security Disability Thresholds: 2005 2006
Substantial Gainful Activity (SGA) Non-Blind $ 830/mo. $ 860/mo.
Blind $1,380/mo. $1,450/mo.
Trial Work Period (TWP) $ 590/mo. $ 620/mo.

Maximum Social Security Benefit:
Worker Retiring at Full Retirement Age in 2005
2006

NOTE: For retirees born in 1940, full retirement age is 65 and 6 months; for those born in 1941, it is 65 and 8 months. Full retirement age will gradually increase to age 67 for those born in 1960 and later. $1,939/mo.
(Age 65 and 6 months) $2,053/mo.
(Age 65 and 8 months)

SSI Federal Payment Standard: 2005 2006
Individual $ 579/mo. $ 603/mo.
Couple $ 869/mo. $ 904/mo.

SSI Resources Limits: 2005 2006
Individual $2,000 $2,000
Couple $3,000 $3,000

SSI Student Exclusion Limits: 2005 2006
Monthly Limit $1,410 $1,460
Annual Limit $5,670 $5,910

Estimated Average Monthly Social Security Benefits Payable in January 2006: Before
4.1% COLA After
4.1% COLA
All Retired Workers $ 963 $1,002
Aged Couple, Both Receiving Benefits $1,583 $1,648
Widowed Mother and Two Children $1,992 $2,074
Aged Widow(er) Alone $ 929 $ 967
Disabled Worker, Spouse and
One or More Children $1,509 $1,571
All Disabled Workers $ 902 $ 939

SSA Press Office 440 Altmeyer Bldg. 6401 Security Blvd. Baltimore, MD 21235
410-965-8904 FAX [phone]

Answer 4

its more than a million

Answer 5

too much