Social Security / Medicare
Social Security Contribution Limits
2011 - $106,800
Social Security Tax Rate
Employee - 4.2% (2011 Only)
Employer - 6.2%
Medicare Contribution Limits
2011 - None, All income is taxed
Medicare Tax Rate
Employee - 1.45%
Employer - 1.45%
Social Security Benefits
Subject to Income Tax -- 2011
| Base Amount of modified AGI causing Social Security benefits to be taxable | Up to 50% Taxable | Up to 80% Taxable |
| Married Filing Jointly | $32,000-$44,000 | $44,000+ |
| Single | $25,000-$34,000 | $34,000+ |
Full Retirement Age 65 years 10 months
Portion of Benefit Paid at age 62 - 75.8%
Maximum Earnings before Social Security benefits are reduced
| 2010 | 2011 | |
| Before Full Retirement (lose $1 for every $2 of earnings) | $14,160 | $14,160 |
| Year of Full Retirement | $37,650 | $37,650 |
| After Full Retirement | No Limit | No Limit |
