There are new figures for social security, COLA adjustments and other items. The SSA has announced a 1.7% COLA for 2015. This will first be effective with payments for December 2014, which are received in January 2015. The total amount of earnings subject to taxation under FICA or SECA will increase by $1,500 from $117,000 to $118,500. A list of other parameters that change for 2015, including the substantial gainful activity thresholds and the earnings test thresholds can be found here: socialsecurity.gov/news/press/factsheets/colafacts2015.html .
Posted on: Sun, 02 Nov 2014 12:46:58 +0000
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