Changes are coming to Social Security next year, and for many people, these changes will impact them financially, some even significantly. While different proposals will likely get debated and further modified next year, these will impact our wallets and bank accounts.
The 12.4 percent tax on workers’ earnings is still in place, split between the workers and the employers. That hasn’t changed since 1990, but the maximum amount of taxed income every year over the past 10 years has changed and will again in 2025.
