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Does anyone know what the amount is when they stop taking out SS of your checks?
I think it is $97K but not sure. Thanks
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Posted 9/14/07 8:34 AM  |
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Long Island Weddings
Long Island's Largest Bridal Resource |
AOMom
LIF Adolescent
Member since 11/06 856 total posts
Name:
j
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Re: Does anyone know what the amount is when they stop taking out SS of your checks?
97,500 for 2007.
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| Posted 9/14/07 8:37 AM |
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Re: Does anyone know what the amount is when they stop taking out SS of your checks?
Posted by Rooster
97,500 for 2007.
Thanks 
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| Posted 9/14/07 9:00 AM |
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leighla
Support Cancer Research
Member since 5/05 16353 total posts
Name:
Lauren
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Re: Does anyone know what the amount is when they stop taking out SS of your checks?
I love it when that happens and you suddenly have more in your check. 
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| Posted 9/14/07 9:17 AM |
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Gertyrae
Peace out Homies!
Member since 5/05 20046 total posts
Name:
Gerty ®
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Re: Does anyone know what the amount is when they stop taking out SS of your checks?
They actually stop taking SS out of your check?
Is that your total salary or if you reach 97K in total paid lifetime?
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| Posted 9/14/07 9:19 AM |
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Sassyz75
Turning a new page
Member since 5/05 9731 total posts
Name:
Dina
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Re: Does anyone know what the amount is when they stop taking out SS of your checks?
Posted by Gertyrae
They actually stop taking SS out of your check?
Is that your total salary or if you reach 97K in total paid lifetime?
97 for the year..
after you make 97 in the year they stop.
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| Posted 9/14/07 9:43 AM |
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GoldenRod
10 years on LIF!
Member since 11/06 26792 total posts
Name:
Shawn
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Re: Does anyone know what the amount is when they stop taking out SS of your checks?
Question
What is maximum amount of earnings subject to Social Security taxes for 2007?
Answer
The maximum amount of earnings that are subject to Social Security tax rises in step with increases in national average wages.
Maximum Earnings Taxable
Program 2005 2006 2007
Social Security $90,000 $94,200 $97,500
Medicare No Limit for any year after 1993
NOTE: The Social Security tax rate is 6.2% and the Medicare tax rate is 1.45% for each year shown above. Thus the maximum Social Security tax withheld in 2007 is $6,045.
The tables never come over nicely, so here's the link: Social Security Q&A
After you earn $97,500 per year, you stop getting taxed. If you earn $98k/year, the last $500 doesn't have SS taxes taken out.
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| Posted 9/14/07 9:45 AM |
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TeddyBear922
LIF Adult
Member since 8/06 1265 total posts
Name:
Chris
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Re: Does anyone know what the amount is when they stop taking out SS of your checks?
I will never know how that feels!
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| Posted 9/14/07 1:05 PM |
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Ang-Rich
Beyond Compare
Member since 5/05 17988 total posts
Name:
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Re: Does anyone know what the amount is when they stop taking out SS of your checks?
Posted by TeddyBear922
I will never know how that feels!
I was just thinking that....wonder what that feel like.
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| Posted 9/14/07 1:06 PM |
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Re: Does anyone know what the amount is when they stop taking out SS of your checks?
Posted by Ang-Rich
Posted by TeddyBear922
I will never know how that feels!
I was just thinking that....wonder what that feel like.
Must be nice!! I could only imagine....
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| Posted 9/14/07 1:23 PM |
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sunflowerjesss
Mommy to 3!
Member since 10/05 20369 total posts
Name:
Jesss, duh.
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Re: Does anyone know what the amount is when they stop taking out SS of your checks?
I thought it was 80k....not that it matters anyway, I'm not even close.
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| Posted 9/14/07 1:54 PM |
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lucyloo
nope
Member since 1/06 9758 total posts
Name:
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Re: Does anyone know what the amount is when they stop taking out SS of your checks?
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| Posted 9/14/07 2:09 PM |
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Ladybug63
Ohh... baby
Member since 5/06 2527 total posts
Name:
D
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Re: Does anyone know what the amount is when they stop taking out SS of your checks?
I guess they raised it??
I thought it was around $87k
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| Posted 9/14/07 2:22 PM |
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bomb-blast
bye bye
Member since 11/06 1327 total posts
Name:
Leo
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Re: Does anyone know what the amount is when they stop taking out SS of your checks?
Posted by Ladybug63
I guess they raised it??
I thought it was around $87k
It generally increases by a few thousand each year.
2005-90,000
2006-94,200
2007-97,500
2008-??
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| Posted 9/14/07 2:59 PM |
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