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