The Social Security Administration announced a 2.5% cost-of-living increase to Social Security benefits in 2025. It also said the Social Security wage base for FICA and self-employment tax in 2025 will be $176,100 (up from $168,600 in 2024). In planning your budget for 2025, take this new wage base into account for employment tax purposes if you have high earners. #IdeaoftheDay
Barbara Weltman
Big Ideas for Small Business, Inc.
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