What is the current maximum amount of taxable earnings for Social Security this year?
In 2016, the highest amount of earnings on which you must pay Social Security tax is $118,500. We raise this amount yearly to keep pace with increases in average wages. There is no maximum earnings amount for Medicare tax. You must pay Medicare tax on all of your earnings.
See Benefits Planner: Maximum Taxable Earnings (1937-2015) for more information.
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- Topic #: 34011-3817
- Date Created: 04/04/2014
- Last Modified Since: 03/11/2016
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