Social Security Supplemental Income 2022 — New $841 checks to drop in days as 33

Earned income taxes to rise

Next year, those receiving benefits will see an increase in their earned income taxes.

Earned income consists of a few types of payments: wages and salary, but not investment income.

As of today, Social Security is able to be maintained from its 12.4% payroll tax on your earned income.

In 2022, anything earned between $0.01 and $147,000 is subject to the payroll tax while anything above $147,000 is exempted.

The cap on taxable earnings is directly correlated to the National Average Wage Index (NAWI), which is expected to increase, according to The Motley Fool.

This percentage increase will then determine how much the maximum taxable earnings cap will increase next year.