COLA

COLA Driven Tax Changes for 2017

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There are many cost of living adjustments (COLA) being made for 2017 as announced by the IRS. These changes will be effective on January 1, 2017. The changes we will discuss today are those being made under section 415 of the Internal Revenue Code. This Code sets forth dollar limitations on benefits and contributions that […]

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2017 COLA Increase Will Result in a Tax Hike For Over 12 Million American Workers

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[2017 COLA update] Its been a few years with relatively minor COLA (cost-of-living-adjustment) increases but even with the marginal 2017 COLA increase of 0.3%, over 12 million Americans will pay higher taxes in 2017 as the maximum taxable earnings (wage base) subject to social security also increased from $106,800 to $110,100. You can see the previous update below for how this […]

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2018 vs 2017 Cost of Living Adjustment (COLA), Social Security and Medicare Tax Rates

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[2018 COLA Increase] The Social Security Administration (SSA) has announced a relatively large 2% Cost of Living Adjustment (COLA) for 2018. Benefits like Social Security or Supplemental Security income, that are tied to COLA will reflect the 2% increase in January 2018. The increase is equivalent to about $27 more a month or $329 a year […]

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Will there be a 2015 SSI COLA increase?

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[Updated with 2015 Forecast – 90% accurate] What will the 2015 SSI COLA increase be? That’s the question 60 million social security recipients (mainly federal and military retirees) will be asking later this year when the  Social Security Administration (SSA) has officially announces the COLA increase. Per the update below the 2014 COLA raise was 1.5%, […]

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2013 Average Monthly Social Security Benefits Change With COLA Increase

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The Social Security Administration (SSA) confirmed that the 2013 COLA increase will be 1.7%. This means that nearly 62 million Americans will see their benefit payments increase in January 2013, with the average retiree receiving a $21 increase.  As detailed in the table below, retired couples will see a $34 increase with disabled workers receiving a $19 increase on […]

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2012 COLA (Cost-of-Living Adjustment) 3.6% Increase for Social Security, SSI, Federal Retirees and Medicare Premiums

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[Updated October 19 – Official 2012 COLA Increase is 3.6%] The Social Security Administration (SSA) announced that the Monthly Social Security and Supplemental Security Income (SSI) benefits for more than 60 million Americans will increase by 3.6 percent in 2012. The 2012 COLA increase would be the first in two years, reflecting a rise in […]

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2012 COLA (Cost of Living Adjustment) Set to Increase by 3.6% For Social Security Recipients

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[Updated for 2012 Social Security changes] The official 2012 COLA (cost-of-living adjustment) increase is 3.6%, as announced by the SSA. This will mean increased payments to social security recipients, federal employees (in 2013) and other groups whose pay/benefits are tied to COLA. The 2012 COLA increase would be the first in two years and is a much needed […]

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