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Why Your Paycheck May Be Smaller This Month
In this video, the host explains why paychecks may be smaller in January 2025 compared to December 2024.
The main reason is due to the resumption of Social Security deductions at the start of the year, which cease once annual income exceeds $176,100. This deduction affects high-income earners significantly, making their early-year finances feel tighter.
The host provides tips on managing cash flow and planning financial contributions around the timing of these deductions, ensuring viewers have clarity on the finances to make informed decisions.
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By Lucas Casarez CFP®
5
66 ratings
In this video, the host explains why paychecks may be smaller in January 2025 compared to December 2024.
The main reason is due to the resumption of Social Security deductions at the start of the year, which cease once annual income exceeds $176,100. This deduction affects high-income earners significantly, making their early-year finances feel tighter.
The host provides tips on managing cash flow and planning financial contributions around the timing of these deductions, ensuring viewers have clarity on the finances to make informed decisions.