2023 Social Security Taxable Wage Amounts Increase
2023 Social Security Taxable Wage Amounts Increase
The Social Security Administration has announced that, effective January 1, 2023, the maximum amount of earnings subject to the Social Security tax (taxable maximum) will increase to $160,200 from $147,000. This update is based on the increase of average wages and is addressed in a recently released Social Security Fact Sheet.
Posted:
Adams Keegan