Monthly Increases

Photo Credit: pbs.org 2017 is bringing modest payment increases for social security recipients. The average monthly payment will increase to $1,360 for single recipients and about $2,260 for married couples.

Higher Earnings Limit

Photo Credit: fool.com

Recipients who want or need to work will be able to earn more in 2017.  Those under 65 can earn up to $16, 920 this year.  Those who are turning 66 can earn as much as $44, 880, this is up $3,000 from last year.

Fewer Penalties For Workers

Photo Credit: thewatermarkgrp.com

In the past, if you worked and received benefits you were penalized if you earned too much. Those penalties are going down this year. $1 in benefits will be withheld for every $2 over the maximum earnings for those under age 65.

For those who are 66, but not yet full retirement age (66yrs, 2 months), $1 for every $3 earned over the limit will be held back. Once you reach full retirement age, there is no limit on what you can earn. And, any money previously withheld will be returned.

Maximum Benefit Increase

Photo Credit: dcurbanmoms.com

The maximum benefit payment a person at full retirement age is allowed to receive is going up to $2,687. However, that payment could increase by more, if retirement is delayed until age 67.

Higher Tax Cap

Photo Credit: money.usnews.com

Workers currently pay 6.2% of their earnings into social security. A contribution matched by employers. Once maximum earnings are reached-nothing above that amount is taxable.

In 2016, the maximum earning amount was $118, 500. In 2017 that increases to $127, 200. This means approximately 12 million more people will be paying into social security this year.

 

Sponsored Links

 

Leave a Reply to Anonymous Cancel reply

Your email address will not be published. Required fields are marked *

You May Also Like

Donald Trump to Restore Relationship with Israel, in Landmark Meeting with Israeli Prime Minister Netanyahu

In a landmark meeting that Obama would soon like to forget, Israeli…

PROOF: 10 ‘Trump’ Hate Crimes That Made Headlines In 2016… They Were Later Proven Fake

‘Vote Trump’ Church Fire Mystery First among the hate crime hoaxes was…

CBS Brings New Series To The Table Conservatives Want Off TV

Hollywood continues to glorify lies and corruption, both off and on screen. CBS is producing a new legal drama, based on the life of Eric Holder.

Liberals Whine About ‘Russian Hacking’, so Conway Releases Statement That Makes Trump Look Better Than Ever

As president of the United States, Conway said, Donald Trump respects what the legislature…

Monthly Increases

Photo Credit: pbs.org

2017 is bringing modest payment increases for social security recipients. The average monthly payment will increase to $1,360 for single recipients and about $2,260 for married couples.

Higher Earnings Limit

Photo Credit: fool.com

Recipients who want or need to work will be able to earn more in 2017.  Those under 65 can earn up to $16, 920 this year.  Those who are turning 66 can earn as much as $44, 880, this is up $3,000 from last year.

Fewer Penalties For Workers

Photo Credit: thewatermarkgrp.com

In the past, if you worked and received benefits you were penalized if you earned too much. Those penalties are going down this year. $1 in benefits will be withheld for every $2 over the maximum earnings for those under age 65.

For those who are 66, but not yet full retirement age (66yrs, 2 months), $1 for every $3 earned over the limit will be held back. Once you reach full retirement age, there is no limit on what you can earn. And, any money previously withheld will be returned.

Maximum Benefit Increase

Photo Credit: dcurbanmoms.com

The maximum benefit payment a person at full retirement age is allowed to receive is going up to $2,687. However, that payment could increase by more, if retirement is delayed until age 67.

Higher Tax Cap

Photo Credit: money.usnews.com

Workers currently pay 6.2% of their earnings into social security. A contribution matched by employers. Once maximum earnings are reached-nothing above that amount is taxable.

In 2016, the maximum earning amount was $118, 500. In 2017 that increases to $127, 200. This means approximately 12 million more people will be paying into social security this year.

 

Sponsored Links

 

Leave a Reply to Anonymous Cancel reply

Your email address will not be published. Required fields are marked *

You May Also Like

Clinton Administration Panics After Corruption Scandal Leaks… This Could Finish Them

News reports are flooding the media displaying how Hillary Clinton’s State Department…

Donald Trump’s TV Ad Strategy Could Cost Him Votes

Donald Trump is use to a different TV ad strategy. He doesn’t do TV advertising. He’s more old-fashioned and saves every dollar he can. He sticks with the rallies and the free media coverage.

Liberal Judge Dismisses Benghazi Lawsuit Against Hillary Blames Parents’ Grief

The pain of losing a child is not something to be used…