J.D. Sumter & Associates, INC. Social Security Thresholds   CY 2011& CY 2012
DESCRIPTION 2011 2012 Social Security wage base $ 106,800 $ 110,100 Medicare wage base Unlimited Unlimited       Social Security tax % 4.20% 4.20% Medicare tax % 1.45% 1.45%   ------------------ ------------------ Total FICA % assessed employees 5.65% 5.65%       Maximum Social Security withholding $4485.60 $4624.20 Maximum Medicare withholding Unlimited Unlimited Social Security earnings limits:     Age 62 to 66. No payback unless you earn   (After that repay $1 for every $2 earned.) $ 14,160 $ 14,640       Turn 66 this year? No payback unless you earn (After that repay $1 for every $3 earned.) $ 37,680 $ 38,880 (Repay $1 for every $3 earned) Before age 66 Before age 66       66 This year? No limit No limit Amount needed to earn coverage     * Per quarter $ 1120 $ 1130       * Per year $ 4480 $ 4520
J.D. Sumter & Associates, Inc. 16910 South U.S. Hwy 441 Baylee Plaza - Suite 203 Summerfield, FL 34491 (352) 307-4366 www.EasyAs123.com DaceyCPA@EasyAs123.com