Social Security benefits are based on a formula that considers your ... Your earnings record only reflects the income you paid Social Security payroll taxes on. The ceiling on income subject ...

Social Security payments may be taxable based on your income. Learn how benefits are taxed, how they're calculated, and ...

Learn More » Step 1: Lifetime earnings are indexed to account for wage inflation Social Security is based on lifetime earnings ... exempt from Social Security payroll tax, and it's also excluded ...