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Saving Advice
Saving Advice
Drew Blankenship

9 Things the $184,500 Social Security Wage Base Means If You’re Still Working

Social Security wage base
Image Source: Shutterstock

Collecting Social Security doesn’t mean that you have to completely stop working. But there are some limits. The new Social Security wage base of $184,500 affects how much tax you pay and how your future benefits are calculated. Many older workers don’t realize how this annual limit shapes their paycheck, their retirement planning, and even their employer’s costs. Here are nine things you need to know if you’re still earning a paycheck.

1. Only Your First $184,500 in Wages Is Taxed for Social Security

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