2022-2023 Social Security Update

2023 will bring the highest social security COLA increase since 1979! We cover the basics of what you need to know about this increase and how it may affect your taxes in the coming year. If you’re seeking assistance with your retirement plan or overall financial well-being, give our office a call today.

Sources:

https://www.cnbc.com/2022/10/20/what-8point7percent-social-security-cola-for-2023-means-fortaxes-on-benefits.html

https://www.ssa.gov/cola/ https://www.ssa.gov/news/press/releases/2022/#10-2022-2