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The COLA for 2025 is making benefit checks bigger ... (Self-employed people have to pay the full 12.4% ... That's one effective way to strengthen Social Security. 3. The retirement earnings test ...
Image source: Getty Images. 1. 2.5% cost-of-living adjustment (COLA) The big Social Security news from the last couple of months has been the 2025 COLA, which came in at 2.5%.This is under the 3.2 ...
Most U.S. workers spend their careers paying Social Security payroll taxes. If you have an employer, both of you split the 12.4% Social Security tax, paying 6.2% each. If you're self-employed, you ...
(Self-employed folks have to pay the full 12.4% plus 2.9%, though they can claim a deduction for that.) For 2025, a bit more of high earners' incomes will get taxed for Social Security.
In the early morning hours of Oct. 10, the SSA lifted the hood on the 2025 COLA, which offers something of a good news/bad news scenario for Social Security recipients in the upcoming year.
To help offset inflation that happens with time, Social Security has an annual COLA that increases monthly benefits for all Social Security retirement benefit recipients. Social Security recently ...
Are you currently receiving Social Security retirement benefits? If so, you'll want to mark Oct. 10 on your calendar. That's when you'll hear how much bigger 2025's monthly payments will be.
Social Security's payroll tax rate is 6.2% for most workers. The only exception is self-employed individuals, who are taxed at 12.4%. ... the maximum amount most workers will pay in Social ...