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Your email address will not be published.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

Nordstrom Will No Longer Carry Ivanka Trump Fashions

Nordstrom has made the decision to stop selling Ivanka Trump fashions. But their decision seems to be more about politics than business.

Stephen Colbert Under Fire For Vile Attack On President Trump

Too Late For Colbert? Photo credit: CBS After living in Obama’s America…

Breaking- PA Coffee Shop Offers Disgusting New Loyalty Card For People Who…

Hate Trump Photo Credit: facebook.com/blackforgecoffeehouse Anyone in Pennsylvania who loves coffee and…

Linda Sarsour Defends Her Call for Jihad Against President Trump

When the left is calling for violence, or to use their word…

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

Truth About Mexican Border EXPLODES… Trump Reveals Who’s Really Paying…

Who Will Pay For The Wall? Border Patrol| Photo Credit CNBC In…

Colorado Judge Rules Sex Offender Registry As…

One of the biggest issues surrounding the debate on illegal immigration is…

ISIS Encourages Followers To Use Craigslist To Lure Victims

2ISIS Magazine Encourages Craigslist Kills ISIS Attack | Photo Credit Fox News…

CIA Creates New Mission Center To Focus On North Korean Threat

CIA Creates Facility To Monitor Kim Jong Un Kim Jong Un |…