Save time with our cheat sheets, fact sheets, checklists & books!

April 4, 2009

Taxable Wage Base

Your Guide

Print

Definition

The Taxable Wage Base refers to the maximum amount of wages that can be used to compute social security contributions.
Referring Cite
Treas. Reg. § 1.401(l)-2(d)
Additional Helpful Information
Contributions to qualified plans and SEP IRAs can be integrated with social security ( social security integration). The primary objective of this integration is to permit individuals, whose social security contributions are capped at the taxable wage base, to receive a larger contribution amount under the qualified plan or SEP IRA.
More

Keep Learning

Domestic abuse distribution

A domestic abuse distribution is one that is made to domestic abuse victim, during the 1-year period beginning on any date on which the individual

Eligible retirement plan

The term “eligible retirement plan”, means a retirement plan to which a rollover contribution can be made. These are: (i)an individual retirement account described in

Qualified See-Through Trust beneficiary

Definition A qualified trust beneficiary is a trust that satisfies the requirements so as to be treated as a designated beneficiary.   For retirement accounts inherited

Saver’s Credit

Definition Also known as the Saver’s Tax Credit: Nonrefundable tax credit available to eligible individuals who make contributions to their retirement account. The saver’s credit

Be among the first to know when

IRA Rules
Change