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Tag: Social Security
2025 Social Security COLA Increase
The cost of living adjustment, commonly known as COLA, is an increase in Social Security benefits designed to counteract inflation. In 2025, the cost-of-living adjustment (COLA) will be 2.5%. According to the Social Security Administration, Social Security and Supplemental Security Income (SSI) benefits for over 72.5 million Americans will increase by 2.5 percent in 2025.…
Understanding Social Security Taxes in 2025
In 2025, the Social Security payroll tax rate is 12.4%, which consists of 6.2% deducted from your paycheck and an additional 6.2% matched by your employer. For instance, if your taxable payroll income is $100,000 in 2025, the total Social Security payroll tax would be $12,400, split equally between the employee and employer, with…