Support our online development, and advance our onground research initiatives in free market economics, as we seek to showcase the brightest Next-Gen minds.
THE ME-P DISCLAIMER: Posts, comments and opinions do not necessarily represent iMBA, Inc., but become our property after submission. Copyright © 2006 to-date. iMBA, Inc allows colleges, universities, medical and financial professionals and related clinics, hospitals and non-profit healthcare organizations to distribute our proprietary essays, photos, videos, audios and other documents; etc. However, please review copyright and usage information for each individual asset before submission to us, and/or placement on your publication or web site. Attestation references, citations and/or back-links are required. All other assets are property of the individual copyright holder.
By Staff Reporters
***
***
Social Security’s payroll tax cap was raised nearly 9% for 2023, meaning more income will face Social Security taxes next year, but the rise is unlikely to affect the solvency of the trusts underpinning the system.
Citing the increase in average wages, the Social Security Administration said the maximum amount of earnings subject to the Social Security tax (taxable maximum) will increase to $160,200 from $147,000 starting in January. The announcement was part of the release of the cost-of-living adjustment, or COLA. The taxable maximum for 2021 was $142,800.
Citing the increase in average wages, the Social Security Administration said the maximum amount of earnings subject to the Social Security tax (taxable maximum) will increase to $160,200 from $147,000 starting in January.
The announcement was part of the release of the cost-of-living adjustment, or COLA. The taxable maximum for 2021 was $142,800.
***
COMMENTS APPRECIATED
Thank You
***
Share this:
Filed under: Accounting, Health Economics, Health Insurance, Healthcare Finance, LifeStyle, Taxation | Tagged: social security, Social Security’s ‘taxable maximum’ Jumps 9%, SS, ssi, taxable maximum |
The Leading Business Education Network for Doctors, Financial Advisors and Health Industry Consultants 
Leave a Reply