Paying payroll taxes is a shared experience for most workers, yet the amount each person pays varies significantly based on income, filing status, and other factors. Knowing how much you owe the IRS and ensuring your tax withholdings are accurate can save you from an unpleasant surprise during tax season. With 2025 just around the … Read more
In 2025, Social Security beneficiaries will see an increase in their payments, thanks to the cost-of-living adjustment (COLA). While this raise will help in the short term, there are concerns about Social Security’s long-term financial health. Let’s break down the COLA update, Social Security’s future, and possible solutions to the program’s growing issues. What is … Read more
Social Security benefits play a big role in helping retired and disabled Americans. Starting in January 2025, checks will increase through the Cost-of-Living Adjustment (COLA) to help people manage inflation. While this is good news, there are worries about the long-term future of Social Security funds. What is the Cost-of-Living Adjustment (COLA)? COLA ensures benefits … Read more
As Donald Trump campaigns for president again, some of his ideas about Social Security are causing concern. Trump promises to protect Social Security, but experts warn that some of his plans might harm the program faster than expected. One key proposal is to eliminate taxes on Social Security benefits, which could lead to a financial … Read more
Starting January 1, 2025, Social Security will increase the amount of money that people with higher earnings may need to pay in taxes. This change is important to know, especially if you are earning more than $168,600. The new taxable maximum will rise to $176,100, which means you may pay more in payroll taxes if … Read more
Social Security is a critical financial lifeline for millions of Americans, but it faces significant challenges. Depending on the results of next week’s election, the incoming government will need to tackle this issue urgently. Social Security’s funds are at risk, and without solutions, benefits could be cut in the next decade. Here’s a look at … Read more
