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Some workers could lose more money to Social Security payroll taxes in 2025 because the taxable wage base has gone up. In 2024, you only paid these taxes on your first $168,600 in earnings.
Every year, the government makes adjustments to the program that help it take in greater tax revenue and increase benefits available to retirees, among other things. The big Social Security news ...
Image source: Getty Images. 1. The 2025 Social Security COLA. Social Security beneficiaries are getting a 2.5% cost-of-living adjustment, or COLA, starting with the payment they receive in January ...
Each year, there's a wage cap set that dictates how much income gets taxed for Social Security purposes. In 2024, that cap sat at $168,600. In 2025, it's rising to $176,100.
The most notable change to Social Security benefits in 2025 should be good news. ... The new wage base limit, which will be in effect in 2025, is $176,100, up from the $168,600 limit in 2024 ...
Image source: Getty Images. 1. The cost-of-living adjustment. Seniors get a bump in their Social Security benefit every year called the cost-of-living adjustment ().The 2025 COLA of 2.5% was ...
The 2025 wage base limit is higher. The annual wage base limit is the maximum amount of your income subject to Social Security payroll taxes. For 2025, the new wage base limit is $176,100. This ...
In 2025, Social Security adjustments will affect everything from monthly benefit amounts to retirement earnings limits, offering both opportunities and challenges for retirees.
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