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.
I worked as a Musician all my life. I will turn 76 this year. My manager told me several years ago that I should file my SS retirement early because I just don’t make enough $. I was informed that my monthly payment Will be reduced by a small amount because of early retirement. My question is why after I finally reach my FRA, why shouldn’t I get my full money payment at that point. The $ I receive now are not enough to make my monthly payments. The cost of everything has gone up much more than the government says. In Ca. the creed has caused every bill that I have, and I do mean every one of them, almost 40-50%. I still work, have to as long as I can. I served in the Army, was drafted in 1970. I’ve some how paid all taxes. I was even audited once as well. The Govenment has failed us. The present people in charge are thugs and obviously are serving there needs no us. The two party’s even call or text sometimes 6 or 7 times a day asking for $. I want that to stop. Something needs to be done or there will be some sort of uprising. We have been lied to!!!
When the S.S. faces insolvency in 7 years then we seniors should automatically be enrolled in the program that the congress critters are in. After all, it was they that was using our Social Security as their own piggy bank.
I agree!
Not Congress or any other entity should be able to raid the Social Security Trust Fund. Kee your hands off!
FRA for someone born in 1958 last year was 66 and 8 months not 66and 6 months. You should correct that on your info.