News from Social Security Administration

The Social Security Administration released their final numbers. 

They continue to raise the new limit that you must pay Social Security/ Self employment tax on. The maximum base increases to $132,900 in 2019 (from $128,400 in 2018). This will result in additional FICA tax of $558 for the self employed if your earnings are above this level. 

Also, most retirees will receive a 2.8% increase in benefits starting January of 2019.