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Social Security in 2023–Knowing the What’s Changing (and What’s Not Changing)
By now, just about everybody involved in Social Security knows that benefits are changing to the tune if 8.7% in January. There are also two other key parameters that are changing in the coming year: the ceiling on earnings subject to payroll taxation and the limits associate with the “earnings test.” These change every year, so most are aware that there are different figures involved. As The Motley Fool’s Christy Bieber explains in a post on their website, though, there are two significant rules that will remain constant for the coming year: the income thresholds for federal income taxation of Social Security benefits and the discounts applied to early retirement. For more detail, check out Ms. Bieber’s post here…