As we approach the end of the year, it’s the perfect time to talk about some year-end planning strategies. In this two-part episode, Ben and Dan will cover what you need to know and think about before we head into the new year.
As we approach the end of the year, it’s the perfect time to talk about some year-end planning strategies. In this two-part episode, Ben and Dan will cover what you need to know and think about before we head into the new year. Listen in as they discuss the new cost of living adjustments, earnings limits, and the Windfall Elimination Provision.
As you consider your year-end planning, it’s essential to be aware of potential changes in tax rates and how they might impact your Social Security benefits. The current tax rates are set to sunset in 2025, which could lead to significant changes in how much of your Social Security is taxed. Don’t miss part 2 of this conversation and we talk about year-end tax planning!
Here’s some of what we discuss in this episode:
-Social Security Cost of Living (COLA) adjustment
-The FICA Wage Base and Earnings Test Limit increase
-The average retirement benefit on Social Security right now
-The impacts of the Windfall Elimination Provision
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