Judith Dacey, CPAThe CPA with Personality

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J.D. Sumter & Associates, INC.
Social Security Thresholds
CY 2009 & CY 2008
DESCRIPTION 2009 2008
Social security wage base $ 106,800 $ 102,000
Medicare wage base Unlimited Unlimited
     
Social security tax % 6.20% 6.20%
Medicare tax % 1.45% 1.45%
  ------------------ ------------------
Total FICA % assessed employees 7.65% 7.65%
     
Maximum social security withholding $ 6821.60 $6324.00
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 $13,560
     
Turn 66 this year? No payback unless you earn (After that repay $1 for every $3 earned.) $ 37,680 $36,120
(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 $1090 $1050
     
* Per year $ 4,360 $4200
J.D. Sumter & Associates, Inc.
16840 South U.S. Hwy 441
Baylee Plaza - Suite 405
Summerfield, FL 34491
(352) 307-4366
www.EasyAs123.com
DaceyCPA@EasyAs123.com
 

 

 

 

 

 

 

Serving The Villages & Lady Lake, FL 32162 & 32159, Lake Sumter, Oxford, Summerfield, Spruce Creek
Tax preparation  - Consultation - Real estate investors - Small business startup -  Rentals - Self-employed

Email:DaceyCPA@easyas123.com
Copyright © 2009 J.D. Sumter & Associates, Inc. All rights reserved.