Archive for December 27th, 2008
These are Social Security’s tables showing all of the major adjustments for 2009, from the Social Security Administration.
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2008! |
2009 |
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Employee |
7.65% |
7.65% |
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Self-Employed |
15.30% |
15.30% |
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NOTE: The 7.65% tax rate is the combined rate for Social Security and Medicare. The Social Security portion (OASDI) is 6.20% on earnings up to the applicable taxable maximum amount (see below). The Medicare portion (HI) is 1.45% on all earnings.! |
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Maximum Taxable Earnings: |
2008 |
2009 |
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Social Security (OASDI only) |
$102,000 |
$106,800 |
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Medicare (HI only) |
No Limit |
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2008 |
2009 |
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Earnings needed to earn one Social Security credit |
$1,050 |
$1,090 |
Retirement Earnings Test Exempt Amounts:
2008
2009
Under full retirement age
NOTE: One dollar in benefits will be withheld for every $2 in earnings above the limit.
$13,560/yr.
($1,130/mo.)
$14,160/yr.
! ($1,180/mo.)
The year an individual reaches full retirement age
NOTE: Applies only to earnings for months prior to attaining full retirement age. One dollar in benefits will be withheld for every $3 in earnings above the limit.
$36,120/yr.
($3,010/mo.)
$37,680/yr.
($3,140/mo.)
There is no limit on earnings beginning the month an individual attains full retirement age. !
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Social Security Disability Thresholds: |
2008 |
2009 |
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No! n-Blind |
$ 940/mo. |
$ 980/mo. |
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Blind |
$1,570/mo. |
$1,640/mo. |
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Trial Work Period (TWP) |
$ 670/mo. |
$ 700/mo. |
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Maximum Social Security Benefit: |
2008 |
2009 |
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$2,185/mo. |
$2,323/mo.
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