3 Social Security Major Changes Coming in 2023

This time the changes in social security will be positive or not, time will tell, but it is important to know about these big changes that will happen in 2023.

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1. This time Social Security benefits are getting the biggest increase in years.

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[{"selector":"#anim-48e1eb92-a8a2-49b4-8061-3c216a70ae3f [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-12.514648210040342%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] The average profit will increase to $1,827 in January 2023. Also, the 8.7% cost-of-living adjustment (COLA) is going to increase. The average profit will increase to $1,827 in January 2023. Also, the 8.7% cost-of-living adjustment (COLA) is going to increase. CREDIT GETIMAGE

2. This time in 2023 the income-test limit is increasing.

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[{"selector":"#anim-2d448aa2-7c57-48c8-8577-b7894b760c9b [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(28.446691045685945%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.14,.34,.47,.9)","fill":"forwards"}] Next year in 2023, the senior citizen limit is increasing from $19,560 to $21,240 ($56,520 for those reaching FRA in 2023). Next year in 2023, the senior citizen limit is increasing from $19,560 to $21,240 ($56,520 for those reaching FRA in 2023). CREDIT GETIMAGE

3. Salary range going up in 2023.

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[{"selector":"#anim-059d1990-f539-47e3-b5be-dcdc972284bf [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] This year, the wage cap limit is $147,000, so income above that point is not subject to Social Security taxes. This year, the wage cap limit is $147,000, so income above that point is not subject to Social Security taxes. CREDIT GETIMAGE

[{"selector":"#anim-3d3f8e86-93f2-4460-a717-4cfe739a7037 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(12.514648210040342%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.14,.34,.47,.9)","fill":"forwards"}] The wage cap is rising to $160,200 in 2023, so Social Security taxes will be due on the additional $13,200. The wage cap is rising to $160,200 in 2023, so Social Security taxes will be due on the additional $13,200. CREDIT GETIMAGE

3 Social Security Changes Coming in 2023

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3 Social Security Major Changes Coming in 2023

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This time the changes in social security will be positive or not, time will tell, but it is important to know about these big changes that will happen in 2023.

This time the changes in social security will be positive or not, time will tell, but it is important to know about these big changes that will happen in 2023.

1. This time Social Security benefits are getting the biggest increase in years.

1. This time Social Security benefits are getting the biggest increase in years.

2. This time in 2023 the income-test limit is increasing.

2. This time in 2023 the income-test limit is increasing.

3. Salary range going up in 2023.

3. Salary range going up in 2023.

3 Social Security Changes Coming in 2023

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