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You Might Have to Pay Social Security Taxes on Another $8,100 of Your Earnings in 2023

TheMotleyFool

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You Might Have to Pay Social Security Taxes on Another $8,100 of Your Earnings in 2023: https://g.foolcdn.com/editorial/images/703726/social-security-8.jpg

Social Security recipients have been closely monitoring the projected cost-of-living adjustment (COLA) for 2023 because it's supposed to be the largest increase in benefits in more than 40 years due to inflation.

But there's another upcoming Social Security change in 2023 that will impact all workers from those in their 20s to those who might be collecting benefits but are still working.

I'm referring to the wage base that specifies how much of a worker's wages are subject to Social Security taxes. In 2023, there is a big change coming to the wage base.

Source Fool.com

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