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Bainies: best time to do PEG rotation?
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I think it stops after about 118k
Yes
Thanks double Ds!
118 after pretax deductions.
Obama. That's funny. It's indexed to wage growth. Thanks 1975 congress.
One note - you keep paying the Medicare portion (1.45%) after 118k. They only stop collecting Social Security.
Others on here have said that they do
http://bfy.tw/8JNr
No. 118 is individual limit for SS. 250 is joint floor before excess MC kicks in.
Downside: our raises hit Dec 15th, but by next paycheck you are at $0 cum SSI. So back to paying those taxes. Took me some effort last year to realize why my net pay basically didn't move after salary bump.
Correct
You're welcome
!
How much do u have to make in order to hit that ceiling?
I think $140k based off of the last time that I attempted to calculate it. I think the max annual contrib is somewhere around $6k
Supposedly
Yes
Duh
Yes. Limit jumps by $9k next year. They won't withhold excess MC unless you hit 250k alone (IRS figures it on joint income though).
So if my wife and I make more than 118k combined and file together do we get some money back?