2005 Annual Limits Relating to Financial Planning – Social Security

Taxable Wage Base $90,000
Social Security Tax Rate
    Old-Age, Survivors and Disability Insurance
    Hospital Insurance
    Total
12.40%
 2.90
15.30%
Earnings limitations for Social Security Benefits
    Age 62 through 64
    Year of Attainment of Age 65
$12,000
$31,800
Cost of living adjustment  2.7%
Quarter of coverage $920
Maximum benefit: retiring at age 65 $1,939

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