Patrick Grady, CPA

Social Security just announced the greatest COLA adjustment in over 40 years. Accordingly the wage base increased. In 2023 the wage base will be $160,200. This presents some planning opportunities for small businesses, and for some a larger tax bill. Give me a call if you are a self-employed or a small business owner and want to know how this affects you.

Social Security’s 8.7% COLA Increase: What It Means for Your Benefits Millions of older Americans whose budgets have been squeezed by inflation will get a raise of sorts next year when Social Security benefits are raised 8.7%.