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My wife is age 65 and will retire before her birthday in October and the maximum amount she can earn during her last year is 38880 so is that the amount the lessor wages or the more Medicare wages?
Wiki User
∙ 11y ago
There are many other factors to take into consideration. You should seek advice from lawyer in accountancy
Wiki User
∙ 11y ago
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Why is there a limitation on the amount of money we have to pay tax on for Social Security and not for Medicare?
I'm not familiar with the legislative history behind this. However, one explanation would be that although there is a maximum Social Security benefit, there is no maximum Medicare benefit.
What is the maximum amount a person can receive in order to get assistance for medicare payments?
Medicare is not means tested - i.e., eligibility is not affected by one's income or assets.If you are referring to Medicaid, the maximum income amounts differ from state to state.
What is the maximum income one can earn and still keep medicare?
For 2009 and 2010 ALL of your qualified gross earned income will be subject to the medicare insurance tax amount.
What is the limit on earnings subject to a medicare tax deduction?
I suspect you mean wages subject to the FICA contribution/payment. (The payment is generally NOT deductible in determining taxable income). The maximum amount of wages subject to the social security tax for 2007 is $97,500. There is no limit on the amount of wages subject to the Medicare tax. === === The maximum amount of wages subject to the social security tax for 2008 is $102,000. There is no limit on the amount of wages subject to the Medicare tax. 2009 The maximum amount is $106,800, no limit to the medicare tax. Remember. the wage to be taxed is determined using different definitions of income than in other things (like income subject to income tax).
Why is there no maximum contribution limit or cap on medicare?
Because that is the withholding tax rules for the insurance program that the contribution amount are paying for.
What is the 2008 social security tax base?
=== === The maximum amount of wages subject to Social Security tax for 2008 is $102,000. There is no limit on the amount of wages subject to Medicare tax.
When do you stop paying FICA for the year?
The maximum amount of wages subject to the FICA-Social Security tax for 2009 is $106,800. There is no limit on the amount of wages subject to the FICA-Medicare tax.
What is deducted amount?
what is the amount dedution for my medicare
What is a Deduct Amount?
what is the amount dedution for my medicare
What is Medicare part B approved amount?
The Medicare Part B approved amount is a reasonable amount of money that Medicare says the doctor or provider is allowed to bill. You can get more details here: http://www.medicare.gov/Publications/Pubs/pdf/10050.pdf See pages 25 and 47
Does Medicare cover counseling services by an LCSW. How does an LCSW bill Medicare and how much does Medicare reinburse ?
Yes, under most circumstances it will. Medicare has a set amount for these types of services, no matter what they charge. Medicare allows the provider to bill a certain discounted amount to the patient or insurance company. www.texasbestmedicare.com
Which would you expect to be the lowest amount on your pay stub FICA or Medicare deduction?
Medicare Deduction -apex
