Chapter 7 Flashcards
0
Q
Medicare tax rate
A
1.45% of all earnings
Self employed
2.9%
1
Q
Social security tax rate
A
6.2% on up to 113,700 (2013)
Self employed
12.4%
2
Q
Medicare B premiums
A
104.90 is the minimum monthly premium
3
Q
Social security blackout
A
No benefits payable to a surviving spouse when a child is no longer under 16 and before the spouse turns 60
4
Q
Social security earnings test
A
Full retirement age no loss of benefits for wages earned
Prior to FRA $1 lost for ever $2 earned above $15420
