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Wage Cap

The Social Security Administration wage base (SSWB) or "wage cap" is the limit set by Social Security on the maximum amount of gross earnings or wages subject to the Social Security (FICA) and self-employment (SECA) taxes. The Social Security portion is 6.20 percent on wages up to the maximum taxable cap $106,800 for 2009. The Medicare portion of the tax is 1.45 percent with no wage cap.

Fast Facts

  • The average year ly increase of the wage cap has been approximately 4.1 percent during the 20 years that the 6.2 percent Social Security tax rate has been in effect.
  • The wage cap for 2010 is not being raised as average wages in 2009 did not increase.

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Search Results for "wage cap"

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Results 1-5 of 39 for "wage cap"

  • What Is the Social Security Wage Cap?

    Like many working Americans, you may be aware that you are liable for Social Security tax, but you may not und...
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    • 1 of 1 user(s) found this useful

  • Hawaii Wage Garnishment Laws

    When a hawaii creditor threatens to garnish wages, that means that creditor is going to seek an order under w...
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    • 3 of 3 user(s) found this useful

  • New Jersey Wage Garnishment Laws

    What is garnishment? Garnishment is a way that creditors (people or businesses owed money) can look to collect...
    • Site: debtsettlementlawyers.com
    • 3 of 3 user(s) found this useful

  • Ways to Appeal a Wage Garnishment in New York

    The two-stage process of a wage garnishment in the state of New York begins with the sheriff delivering or s...
    • Site: debtsettlementlawyers.com

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