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5.2% Increase in Social Security Taxes: What It Means for Your Paycheck in 2025
Starting in 2025, the Social Security Administration (SSA) will increase the maximum taxable earnings cap by 5.2%, raising the limit from $160,200 in 2024 to $168,545. This adjustment reflects the annual changes tied to wage growth and inflation, impacting how much high-income earners pay in payroll taxes and the benefits they can expect to receive…