The Social Security wage base is increasing for 2023

The Social Security Administration recently announced that the wage base for computing Social Security tax will increase to $160,200 for 2023 (up from $147,000 for 2022). Wages and self-employment income above this threshold aren’t subject to Social…

The Inflation Reduction Act includes wide-ranging tax provisions

The U.S. Senate and House of Representatives have passed the Inflation Reduction Act (IRA). The IRA includes significant provisions related to climate change, health care, and taxes. The IRA also addresses the federal budget deficit. According to…

The Social Security Wage Base Is Increasing in 2022

The Social Security Administration recently announced that the wage base for computing Social Security tax will increase to $147,000 for 2022 (up from $142,800 for 2021). Wages and self-employment income above this threshold aren’t subject to Social…

mgi-logo
NC99 Logo 2022 color
2022_IPA 300_PNG