Wages for Social Security Purposes (2024)

1300.1What are wages?

“Wages” means all payment for services you performfor your employer. Wages do not have to take the form of cash. Thecash value of all compensation paid to you in any form other thancash is also considered wages (unless the form of payment is specificallynot covered under the Social Security Act).

1300.2What types of income are considered wages?

Wages include bonuses, commissions, fees, vacation pay, cashtips of $20 or more a month, and severance pay.

1300.3What types of income are NOT considered wages?

Types of income that are not wages include capital gains, gifts, inheritances, investment income, and jury duty pay.

Wages for Social Security Purposes (2024)
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