The annual wage base limit is the maximum amount of your income subject to Social Security payroll taxes. For 2025, the new wage base limit is $176,100. This means any dollar over that amount is exempt from Social Security payroll taxes, which are either 6.2% if you have an employer or 12.4% if you're self-employed.

Both candidates offer slightly different paths forward, with projections showing a potential shortfall for social security. Learn more here.

In October, the Social Security Administration announced a 2.5% cost-of-living adjustment (COLA) for retired workers and other beneficiaries in 2025. That change, coupled with annual modifications to the primary insurance amount formula, mean the maximum Social Security benefit for retired workers will increase next year.

Many Americans are increasingly anxious to learn that the Social Security Trust Funds are projected to become depleted in 2035. Since Social Security remains a major source of income for

In recent years, Social Security's COLAs have been notably generous. This year's 3.2% COLA was above average over the past decade, and 2023's 8.7% COLA was a record-breaker. Image source: . But in 2025,