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What changed in 2024 for Social Security?

Stefon Walters covers a few changes that occurred, most automatically due to existing law, as there were no new federal enactments by Congress. The wage base increased such that now the first $168,600 is subject to payroll tax (from $160,200 in 2023). A cost of living adjustment of 3.2% took effect with January 2024 checks, though Medicare premium increases ate up $32 of any increase for those on that program. Lastly, two states no longer tax benefits. They are Nebraska and Missouri. But, 10 states still tax benefits. Full article here.

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