The Social Security Administration on Oct. 10 announced a higher threshold ... in one chart Here's why the Social Security COLA is smaller for 2025 The change means more payroll taxes withheld ...

Employees also pay a portion of the tax bill, but self-employed individuals must cover both parts. However, various deductions may apply, and some portions of payroll taxes have income limits.

But a lesser-known tax change will also impact higher-income workers. The Social Security Administration on Oct. 10 unveiled a higher threshold for earnings subject to Social Security payroll ...

The Social Security Administration on Oct. 10 unveiled a higher threshold for earnings subject to Social Security payroll taxes, known as the "taxable maximum" or "wage base." The limit shifts ...