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Steve Miller
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I got a new tax table from Quickbooks today. Looks like Social Security wage limits are going up - from $132,900 to $137,700. It's not much but it's a good start.

I've searched and can not find how this came about. Was it part of tax cut?


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Posts: 35084 | Location: Hooterville, OH | Registered: 23 April 2005Reply With QuoteReport This Post
jon-nyc
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No, it’s indexed. They go up every year.


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Posts: 33811 | Location: On the Hudson | Registered: 20 April 2005Reply With QuoteReport This Post
Steve Miller
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First time I've noticed it.

Indexed to what?


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Posts: 35084 | Location: Hooterville, OH | Registered: 23 April 2005Reply With QuoteReport This Post
Piano*Dad
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Social Security Benefit Base

Changes based on a wage index. It's gone up every year recently, but 2016 and the recession years 2010 and 2011.
 
Posts: 12761 | Location: Williamsburg, VA | Registered: 19 July 2005Reply With QuoteReport This Post
jon-nyc
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I think generally speaking it’s higher than the normal CPI (CPI-U).


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Posts: 33811 | Location: On the Hudson | Registered: 20 April 2005Reply With QuoteReport This Post
jon-nyc
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quote:
Originally posted by Piano*Dad:
Social Security Benefit Base

Changes based on a wage index. It's gone up every year recently, but 2016 and the recession years 2010 and 2011.


Interesting chart. It doubled between 76 and 82.

And only broke 100k about a decade ago.


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Posts: 33811 | Location: On the Hudson | Registered: 20 April 2005Reply With QuoteReport This Post
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