With the New Year Comes New Changes

3 elderly menMonthly Social Security and Supplemental Security Income (SSI) benefits will see a slight increase in 2017.

Some other adjustments that take effect in January of each year are based on the increase in average wages. Based on that increase, the maximum amount of earnings subject to the Social Security tax (taxable maximum) will increase to $127,200 from $118,500. Of the estimated 173 million workers who will pay Social Security taxes in 2017, about 12 million will pay more because of the increase in the taxable maximum. Continue reading

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