what is the maximum amount that can be withheld on income for social security?

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what is the maximum amount that can be withheld on income for social security?

2007-01-29 11:22:15 · 2 answers · asked by jeff m 1 in Business & Finance ➔ Taxes ➔ United States

2 answers

6.2% on earnings up to $94,200, in 2007 it will be 6.2% on earnings up to $97,500. if you are self employed, 12.4% on earnings up to $94,200, in 2007 97,500 in earnings

http://www.ssa.gov/pubs/10003.html

2007-01-29 11:31:33 · answer #1 · answered by Jen 5 · 0⤊ 0⤋

The Social Security tax rate is 6.2%. The maximum taxable wage is $94,000 for 2006. Therefore the maximum SS tax is $5,828.00

2007-01-29 19:32:06 · answer #2 · answered by Bostonian In MO 7 · 0⤊ 0⤋