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Looking Ahead to Social Security in 2021
By now, all who follow what’s going on in the world of Social Security are aware that beneficiaries are in line for a whopping 1.3% increase in their monthly payment. But that’s not all that’s changing for the coming year. For example, the full retirement age (FRA) is moving up another two months, and the cap on wages subject to payroll tax is increasing by 3.7% to $142,800. And that’s not all that’s changing…the good folks at The Motley Fool, in a post on www.foxbusiness.com, provide a rundown of seven of the changes that affect many taxpayers and beneficiaries. Check it out here…