3. Social Security tax limit

In 2026, the Social Security taxable wage cap is projected to rise to $183,600, up from $176,100 in 2025. This increase means high earners could pay up to $11,383.20 in Social Security taxes, about $465 more than the year before.

Taxes stop once you hit the cap, but all wages remain subject to Medicare’s 1.45% tax, plus an extra 0.9% for higher-income earners.

4. Earnings test in 2026

If you work while collecting Social Security, part of your benefits may be withheld if your earnings exceed set limits. In 2026, the estimated limit for those under full retirement age is $24,360 ($1 withheld for every $2 earned above it).

For those reaching full retirement age in 2026, the limit rises to $64,800 ($1 withheld for every $3 earned above it). Once you reach full retirement age, there’s no earnings cap, and withheld benefits are restored.

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