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The Social Security Fairness Act (SSFA), which was recently signed into law on Jan. 5, by President Joe Biden, eliminates rules that reduce Social Security benefits for those who also get income ...
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.
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 2025. As of the latest data ...
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.
The general Social Security earnings-test limit in 2025 is $23,400 (up from $22,320 in 2024). You'll have $1 in Social Security withheld for every $2 you earn above that limit.
For those reaching full retirement age in 2025, there's a higher earnings-test limit of $62,160, up from $59,520 in 2024. ... In 2025, Social Security's wage cap is $176,100, up from $168,600 in ...
That will increase to $10,918 next year (i.e., 6.2% of $176,100), meaning some workers will pay up to $465 more in payroll taxes in 2025. 3. The maximum Social Security benefit for new retirees ...
Key Social Security changes in 2025 will affect current retirees and workers who won't get benefits for a while. Here's what's coming. ... based on the current law, no changes are expected after ...