The Social Security Administration (SSA) has announced that the wage base for computing the Social Security tax (OASDI) in 2021 will increase to $142,800. This is up from $137,700 for 2020. In addition, beneficiaries of Social Security and Supplemental Security Income (SSI) will receive a 1.3% cost of living adjustment for 2021. Click here for more information from the SSA.
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About Richard (Dick) Jacobs, CPA
Dick is a director at Meadows Urquhart. More about Dick.