Social Security COLA Tax Implications, Netflix’s New Ad Plan & Top Financial News for Oct. 14, 2022

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It’s Friday and National Dessert Day. We think this calls for a treat! Check out today’s top financial stories and make sure to indulge in your favorite dessert to start your weekend off on a sweet note.

Social Security COLA: What Are the Tax Implications of the Biggest Payment Bump in Decades?

The Social Security Administration’s announcement that beneficiaries will get an 8.7% cost-of-living adjustment (COLA) in 2023 should provide welcome financial relief to those struggling to deal with soaring inflation. There is a potential downside, however, having to do with how the COLA will impact tax obligations for seniors. Read the full story here

Business Spotlight: Netflix

Netflix announced the upcoming launch of its new Basic with Ads plan, which offers a subscription price of only $6.99 a month in the United States. Read the full story here

Good To Know: Didn’t Get Stimulus Money? Watch Your Mailbox for a Letter From the IRS

More than 9 million people have not collected all or some of their coronavirus stimulus payments, including the Child Tax Credit, the Recovery Rebate Credit, or the Earned Income Tax Credit. The IRS announced that it will be sending a reminder letter to individuals and families who may be eligible for the credit. Read the full story here

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Bonus: 7 Remote Jobs Gen Z Will Love

According to a recent survey by Quinyx, when looking for a job, Gen Z sees flexibility (72%) as more important than work culture, health benefits or employee discounts. Here are seven remote jobs perfect for Gen Zers. Read the full story here

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About the Author

Heather Taylor is a senior finance writer for GOBankingRates. She is also the head writer and brand mascot enthusiast for PopIcon, Advertising Week’s blog dedicated to brand mascots. She has been published on HelloGiggles, Business Insider, The Story Exchange, Brit + Co, Thrive Global, and more media outlets. 

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