Hi Everyone. Well, after 15 years the RV-Dreams Community Forum is coming to an end. Since it began in August 2005, we've had 58 Million page views, 124,000 posts, and we've spent about $15,000 to keep this valuable resource for RVers free and open. But since we are now off the road and have settled down for the next chapter of our lives, we are taking the Forum down effective June 30, 2021. It has been a tough decision, but it is now time.


We want to thank all of our members for their participation and input over the years, and we want to especially thank those that have acted as Moderators for us during our amazing journey living and traveling in our RV and growing the RV-Dreams Family. We will be forever proud to have been founders of this Forum and to have been supported by such a wonderful community. Thank you all!!

Members Login
Username 
 
Password 
    Remember Me  
RV-Dreams.com Home -> RV-Dreams Community Forum -> Ask Howard -> Social Security
Post Info TOPIC: Social Security
mcphelps7


RV-Dreams Family Member

Status: Offline
Posts: 25
Date:
Social Security
Permalink  

Howard,  Your treatise on Social Security was great!  Thank you.  The maximum wages that are taxed for social security are something like $85k.  If you earn $100k for a few years, is that counted into the total wages, or do they cap it at $85k each year for the sake of the calculation.  Thank you!

__________________
2009 4WD 1500  Suburban pulling a 27' Aerolite TT
Luvglass


RV-Dreams Family Member

Status: Offline
Posts: 1438
Date:
Permalink  

You earn maximum benefits from the capped contribution. I don't believe they track additional earnings.
Fred

__________________
Fred Wishnie

Full time since Feb 06 in Carriage Cameo 35KS3 and Ford F350


“If all you ever do is all you’ve ever done, then all you’ll ever get is all you ever got.”
Howard


Host

Status: Offline
Posts: 1224
Date:
Permalink  

Hi mcphelps7,

Just in case folks don't know what "treatise" you are talking about, here is the link to our "Social Security Overview" page.  smile

Fred is correct.  You do not get to count the earnings over the maximum taxable amount in each year. 

Here is a link to "Your Retirement Benefit:  How It Is Figured".  It shows maximum earnings amounts from 1951 through 2006:

http://www.socialsecurity.gov/pubs/10070.html

The amount for 2007 is $97,500.

So you only get to count earnings up to those amounts in each of those years according to that link.

Now you didn't really think the government was going to let you count earnings that they didn't tax for social security did you?  biggrin

Seriously, that was a great question.  I assumed you could not count the earnings over and above the maximums, but it wasn't that easy to confirm it.  smile 

__________________
mcphelps7


RV-Dreams Family Member

Status: Offline
Posts: 25
Date:
Permalink  

Thanks Howard.  Uncle Sam never seems to miss a thing!bleh 

__________________
2009 4WD 1500  Suburban pulling a 27' Aerolite TT
Page 1 of 1  sorted by
 
Quick Reply

Please log in to post quick replies.
RV-Dreams.com Home -> RV-Dreams Community Forum -> Ask Howard -> Social Security
Tweet this page Post to Digg Post to Del.icio.us