9% increase to Social Security maximum taxable earnings in 2023
In this video, we are discussing an increase of 9% to the Social Security maximum taxable earnings in 2023, in this video we are discussing what this means and what it may mean for your Social Security benefit. This is a question that we received quite a bit lately from many Social Security beneficiaries here in the community who are wondering what the 9% increase to the Social Security maximum taxable earnings means and how this is going to impact their monthly benefit. This is a great question and exactly what we want to talk about here in this video. Recently, the Social Security administration was out with several announcements going into 2023 on how Social Security benefits are going to be changing as well as taxes to Social Security payroll taxes which help fund the Social Security trust fund. As a result of that, in this video we are discussing the 2023 Social Security maximum taxable earnings which is also increased. We also discuss the details of how this impacts Social Security, SSDI, SSI and other fixed income benefits. This is a social security update, SSDI update, SSI update, low income benefit update.
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