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Get your taxes done using TurboTax
Well, don't know of other reasons, but the main one that comes to mind is.
For 2022, On a W-2, Box 3 has a maximum limit value of $147.000 and box 4 a Max of $9114.
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Your wages can be higher, but you don't pay into SS on W-2 income more than $147,000 for 2022.
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For 2023 SS taxes on income earned this year, it will be $160,200 Max income, and $9932.40 SS tax.
____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
‎February 2, 2023
11:01 AM