Social Security Table

2016

SINGLE
Maximum Earnings Before Social Security Benefits Are Reduced
Less than Full Retirement Age
(lose $1 for every $2 earned)
$15,720
Year of Retirement Age
(lose $1 for every $3 earned)
$41,880
At Full Retirement Age No Limit
Payroll Taxes
Employed/Self-Employed $ Social Security Medicare
Employee Initial $200k 6.2% of first $118,500 of income 1.45%
Employee AGI1 > $200k 6.2% of first $118,500 of income 2.35%
Self-Employed Initial $200k 12.4% of first $118,500 of income 2.9%
Self-Employed AGI1 > $200k 12.4% of first $117,000 of income 3.8%
1AGI = Adjusted Gross Income​
MARRIED FILING SEPARATELY
Maximum Earnings Before Social Security Benefits Are Reduced
Less than Full Retirement Age
(lose $1 for every $2 earned)
$15,720
Year of Retirement Age
(lose $1 for every $3 earned)
$41,880
At Full Retirement Age No Limit
Payroll Taxes
Employed/Self-Employed $ Social Security Medicare
Employee Initial $125k 6.2% of first $118,500 of income 1.45%
Employee AGI1 > $125k 6.2% of first $118,500 of income 2.35%
Self-Employed Initial $125k 12.4% of first $118,500 of income 2.9%
Self-Employed AGI1 > $125k 12.4% of first $118,500 of income 3.8%
1AGI = Adjusted Gross Income​
MARRIED FILING JOINTLY
Maximum Earnings Before Social Security Benefits Are Reduced
Less than Full Retirement Age
(lose $1 for every $2 earned)
$15,720
Year of Retirement Age
(lose $1 for every $3 earned)
$41,880
At Full Retirement Age No Limit
Payroll Taxes
Employed/Self-Employed $ Social Security Medicare
Employee Initial $250k 6.2% of first $118,500 of income 1.45%
Employee AGI1 > $250k 6.2% of first $118,500 of income 2.35%
Self-Employed Initial $250k 12.4% of first $118,500 of income 2.9%
Self-Employed AGI1 > $250k 12.4% of first $118,500 of income 3.8%
1AGI = Adjusted Gross Income​
HEAD OF HOUSEHOLD
Maximum Earnings Before Social Security Benefits Are Reduced
Less than Full Retirement Age
(lose $1 for every $2 earned)
$15,720
Year of Retirement Age
(lose $1 for every $3 earned)
$41,880
At Full Retirement Age No Limit
Payroll Taxes
Employed/Self-Employed $ Social Security Medicare
Employee Initial $200k 6.2% of first $118,500 of income 1.45%
Employee AGI1 > $200k 6.2% of first $118,500 of income 2.35%
Self-Employed Initial $200k 12.4% of first $118,500 of income 2.9%
Self-Employed AGI1 > $200k 12.4% of first $118,500 of income 3.8%
1AGI = Adjusted Gross Income

 

2017

SINGLE
Maximum Earnings Before Social Security Benefits Are Reduced
Less than Full Retirement Age
(lose $1 for every $2 earned)
$16,920
Year of Retirement Age
(lose $1 for every $3 earned)
$44,880
At Full Retirement Age No Limit
Payroll Taxes
Employed/Self-Employed $ Social Security Medicare
Employee Initial $200k 6.2% of first $127,200 of income 1.45%
Employee AGI1 > $200k 6.2% of first $127,200 of income 2.35%
Self-Employed Initial $200k 12.4% of first $127,200 of income 2.9%
Self-Employed AGI1 > $200k 12.4% of first $127,200 of income 3.8%
1AGI = Adjusted Gross Income​
MARRIED FILING SEPARATELY
Maximum Earnings Before Social Security Benefits Are Reduced
Less than Full Retirement Age
(lose $1 for every $2 earned)
$16,920
Year of Retirement Age
(lose $1 for every $3 earned)
$44,880
At Full Retirement Age No Limit
Payroll Taxes
Employed/Self-Employed $ Social Security Medicare
Employee Initial $125k 6.2% of first $127,200 of income 1.45%
Employee AGI1 > $125k 6.2% of first $127,200 of income 2.35%
Self-Employed Initial $125k 12.4% of first $127,200 of income 2.9%
Self-Employed AGI1 > $125k 12.4% of first $127,200 of income 3.8%
1AGI = Adjusted Gross Income​
MARRIED FILING JOINTLY
Maximum Earnings Before Social Security Benefits Are Reduced
Less than Full Retirement Age
(lose $1 for every $2 earned)
$16,920
Year of Retirement Age
(lose $1 for every $3 earned)
$44,880
At Full Retirement Age No Limit
Payroll Taxes
Employed/Self-Employed $ Social Security Medicare
Employee Initial $250k 6.2% of first $127,200 of income 1.45%
Employee AGI1 > $250k 6.2% of first $127,200 of income 2.35%
Self-Employed Initial $250k 12.4% of first $127,200 of income 2.9%
Self-Employed AGI1> $250k 12.4% of first $127,200 of income 3.8%
1AGI = Adjusted Gross Income
HEAD OF HOUSEHOLD
Maximum Earnings Before Social Security Benefits Are Reduced
Less than Full Retirement Age
(lose $1 for every $2 earned)
$16,920
Year of Retirement Age
(lose $1 for every $3 earned)
$44,880
At Full Retirement Age No Limit
Payroll Taxes
Employed/Self-Employed $ Social Security Medicare
Employee Initial $200k 6.2% of first $127,200 of income 1.45%
Employee AGI1 > $200k 6.2% of first $127,200 of income 2.35%
Self-Employed Initial $200k 12.4% of first $127,200 of income 2.9%
Self-Employed AGI1 > $200k 12.4% of first $127,200 of income 3.8%
1AGI = Adjusted Gross Income
The information presented here is not intended to be a comprehensive analysis. Cherry Bekaert Benefits Consulting, LLC is a benefits advisory firm and does not provide tax or legal advice. Individuals or Employers should consult with qualified legal and/or tax counsel for guidance in respect of matters of law, tax and related regulation.

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