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The new wage base limit, which will be in effect in 2025, is $176,100, up from the $168,600 limit in 2024. This means more income of some workers will be subject to Social Security payroll taxes.
For 2025, the new wage base limit is $176,100. This means any dollar over that amount is exempt from Social Security payroll taxes, which are either 6.2% if you have an employer or 12.4% if you're ...
If you reach full retirement age after 2025, up to $1,950 in monthly earnings can be exempt. Above this threshold, $1 in benefits is withheld for every $2 in excess earned income.
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 ...
If you'll be reaching full retirement age at some point in 2025, you get a higher earnings-test limit to work with -- $62,160, up from $59,520 in 2024. From there, you risk having $1 in Social ...
Income Limit: 2024. Income Limit: 2025. Benefit Reduction. If you will not reach your FRA in 2025. $22,320. $23,400. $1 for every $2 over the limit. If you will reach your FRA in 2025. $59,520 ...
Image source: Getty Images. 1. Social Security's full retirement age (FRA) is increasing in 2025. Social Security's full retirement age (FRA) is the claim age at which benefits awarded to a ...
For 2025, the Social Security wage base — the cap on earnings subject to Social Security tax — will rise to $176,100, meaning only income up to that amount is taxed for Social Security.