Does the firm stop withholding Social Security taxes from your paycheck when you hit the maximum taxable earnings for the year? I.e. will my net paycheck suddenly increase one magical pay period?

like
Posting as :
works at
You are currently posting as works at

I think it stops after about 118k

like

Yes

like

Thanks double Ds!

like

118 after pretax deductions.

like

Obama. That's funny. It's indexed to wage growth. Thanks 1975 congress.

like

One note - you keep paying the Medicare portion (1.45%) after 118k. They only stop collecting Social Security.

like

Others on here have said that they do

like

http://bfy.tw/8JNr

like

No. 118 is individual limit for SS. 250 is joint floor before excess MC kicks in.

like

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.

like

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?

Related Posts

Anyone rent out their car on Turo? I have an 08 Honda Accord in good condition, low mileage (salvaged so resale value is affected). I’ve moved to nyc and my car is just sitting at my parents’ home in Nova collecting dust. Wondering if you had a positive experience? How much effort involved? Would it be hard to manage from nyc?

like

Words of logic and encouragement would be appreciated. Im 31 & started dating again after 2 years of focusing on myself. Hit it off with a guy that I had been consistently seeing 2-3 times a week for the last month. Today he tells me that he’s still hung up on his ex from 2 years ago. They still text every week or so. I’m sad/disappointed because he’s obviously not emotionally available. Please provide some logic on next steps and pros/cons of staying in contact with this person

like
like

Anyone hiring in Atlanta for a project/program manager with 8YOE?
Haven't had any success looking via LinkedIn for jobs.
Currently in NYC and want to relocate my family to Atlanta.

like
like

Hi All, What is the salary range in CITI bank for C12 grade front end developer? I am a angular developer with 9.5 years of experience in various UI technologies. How much should I ask during salary negotiation.

like

Curious to know on average how many projects other PMs are managing at one time? I just counted my projects today and I’m currently on 17 and drowning. Is it like this everywhere? 😵‍💫😫

like

What is the general consensus on long term origination credit for basically “knowing a guy” at the client? More below

like

What is the CTC range for Senior Business System Analyst at Optum with Grade 26.

like

Hi, What would be the max CTC can expect from birlasoft if we have counter offer of 11-13 for Python Automation with 4 YOE

like

Anyone have any insight on the type of Financial Services companies in Chicago? A lot of Fintech ?

like

Welcome to HR professionals bowl! This is a safe space to share HR knowledge and HR best practices! Please feel free to ask questions and suggest podcasts, books, and development activities. Thank you!

like

Any white males on here dating Asian females, specifically Chinese? I’m a white male with a Chinese girlfriend and I’m a bit worried about meeting the parents (they are in China; we are in Australia). They’ve said to my girlfriend that they’d prefer her to date Chinese so they are able to communicate with her boyfriend, but other than that it seems ok. Does anyone have experience in this situation? How did it turn out?

like

Can we talk about how young professionals often get taken advantage of in Corporate America because we seemingly have “no responsibilities outside of work”….

likefunny
like

To get your CV shortlisted in FAANG, Is One column resume format the recommended way?? heard somewhere that the resume parsing engines gets confused while reading 2 column resume. Appreciate your inputs on this.

likefunny

Any other big 4s have happy hour starting at 3 PM on a Thursday? #justcurious

like

I have a client, who is in a new relationship, and his gf contributes about $2600 to the household expenses.

Do I include her contribution as income to my client? or where do I input in the dissomaster? Thank you!

Do any partners ever leave the firm by choice? Say, to pursue their own startup or CEO of an established company? Or to pursue their own personal interests in another area like art, politics, etc.?

Anyone going to the National Black MBA conference this year in Chicago? It’s in September.

like

Additional Posts in Consulting

Good bike brands for 6 yr boy. Budget 100-200. Is it better to order and assemble or buy from walmar or cycle store directl

likehelpful

I feel like I’m in the twilight zone seeing all this turnover/layoffs and practitioners firm jumping

like

What are the top consulting firms that are known to allow full-time remote work?

like

Does failing a client drug test -> getting fired from firm?

like

Anyone at Deloitte working within healthcare regulatory willing to chat?

I hate what Delta has done to the "shuttle" product by brining it to the main terminal at LGA. Screaming obnoxious children everywhere 👺

likeupliftinghelpful

When it's been a day so you order steak. 🥩🍷

like

Are utilization targets (%) always based on 40 hrs/wk, I.e 90% utilization = avg 36 billable hrs/wk?

like

Tell the truth: are you more productive at home than the office? How much more? How about your coworkers? Are they more productive in your estimation? And lastly, your whole team - is it more productive in a remote environment?

likefunnysmart

I am slated to start with Accenture early next year, However I wanted to relocate by the end of the 2022, does anyone know if that would be a problem? Or is there a minimum time obligation prior to transferring to a different region?

About to board a flight, see a guy with a sweatshirt that says, “I’m a consultant. To save time, let’s just assume I’m never wrong” 😂

funnylike

Delta medallions who flew last Monday - do we get 20k points instead of the $200 dollar voucher or do we get both? Points hit my account but no voucher.

like

When your front-line clients send you a Snapchat of them singing Ke$ha's "Prayer" song with modified lyrics describing the shittiness of your tools

likefunny

How often do folks at the SM level get asked to leave/fired?

like

How do you deal with being capped at 40? I have a feeling that despite what leadership says, it has to hurt you at YE

like

Looking for an ergonomic, not bulky chair for my work from home setup. Any recos?

like

I take the water bottle off the FC armrest (where Delta puts a bottle for each person), stuff my bottle in the seat back pocket, and the dude next to me proceeds to put his drink down in that spot!?!

like

Not sure if I can handle the current stress level. Everyone above me level wise keeps saying it doesn't get easier (only harder). How do people cope and survive? Maybe this isn't for me?

like

Bainies: best time to do PEG rotation?

like

Heated hotel bathroom floor = one feature I wish every hotel would adopt. What's yours?

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Send download link to your phone

OR

Scan your QR code to download
Fishbowl app on your mobile

By continuing you agree to Terms of Use and Privacy Policy.

Messaging rates may apply

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal