2007-03-04 11:35:34 · 4 answers · asked by hallywood51289 1 in Business & Finance ➔ Personal Finance
On a W-2, social security wages are the amount of your wages that are subject to social security taxes. Sometimes it's more than your wages reported in box 1, if you had some pre-tax deductions like health care or a 401K. Those aren't taxable for income tax purposed, but are for social security.
2007-03-04 11:41:31 · answer #1 · answered by Judy 7 · 0⤊ 0⤋
As in what you see on your paycheck?
Social security wages are the monies you earned that are subject to social security taxes.
Not all money you earn is subject to income taxes (though most of it will be.) For instance, if you made contributions to a 401k plan, an Individual Retirement Account (IRA), or toward your health insurance premiums, that money was spent "pre-tax" and not subject to income taxes; however, it would be subject to social security taxes.
2007-03-04 11:42:36 · answer #2 · answered by ISOintelligentlife 4 · 0⤊ 0⤋
It is money that is taxable and the government can take out on the pretext of social security and give away in foreign aid, so when you get old social security will claim they are broke and cant pay you.
2007-03-04 11:47:35 · answer #3 · answered by Anonymous · 0⤊ 1⤋
wages that you have earned when younger that help you when you are older and cant work
2007-03-04 11:39:18 · answer #4 · answered by Anonymous · 0⤊ 0⤋