CREDIT GETIMAGE
CREDIT GETIMAGE
CREDIT GETIMAGE
CREDIT GETIMAGE
there are two things you must do: Earn the inflation-adjusted equivalent of $147,000 for 35 years Claim Social Security at 70
CREDIT GETIMAGE
CREDIT GETIMAGE
Right now the FICA tax rate is 7.65% of employees' income, plus an employer match of 7.65%.
CREDIT GETIMAGE
CREDIT GETIMAGE
For the 2022 tax year, the wage base limit is $147,000. Accordingly, the top level augmentation a worker will make to Government-backed retirement charge in 2022 is: $147,000 x 6.2% = $9,114.00
CREDIT GETIMAGE
Next steps