Social Security recipients will not get a cost of living increase again
in 2011. There is no change in the Social Security Wage Base. It will
remain at $106,800, because by law, the wage base cannot be increased if
there no cost of living increase in the social security.
The earnings limit does not change, and "for individuals who turn 66 in
2011 will not lose any benefit if they make $37,680 or less before they
reach that age."
For taxpayers who reach are at least Age 62 but less than Age 66 by end
of 2011 "can earn up to $14,160 before they start losing some benefits."
What do you think of this?
Ask TaxGuru is a free online US tax resource and support community, with helpful features such as Local Tax Professional Search, Tax Tips, Tax Calculators, Free Downloads and Resources.
No comments:
Post a Comment