Social Security Taxable Wages Definition
The wages taxed that support the benefit programs under the Social Security system (i.e., monthly benefits for retired and disabled workers, and survivors of deceased workers).
Social Security Taxable Wages Expanded Definition
Social security taxable wages are calculated by taking gross pay minus Section 125 pretax deductions up to the Social Security wage base limit (which changes annually). Each year the Social Security Administration posts their new Contribution and Benefit Base for the upcoming year.
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Last Updated By
Jenna Hutkowski | May 01, 2023