2023 Personal Compensation Worksheets

New cost-of-living tables are released each year in January.  There will be some changes in the field COLAs for 2023, but there are several areas where the COLA may remain the same.

The Social Security Administration has declared an 8.7% increase in the US cost-of-living for 2023.  The yearly baseline compensation amount will increase to $33,548 for a couple and $25,161 for a single.

1099 Forms for 2023

The 1099 forms for 2023 will be completed no later than January 31, 2023.  Please be patient as it takes time to complete the process of preparing the 1099 information. 

1. If we have a tax preparer on file for you, a copy of the 1099 information will be sent to your tax preparer and a copy will also be sent to you.  Your copy will be included in the first mail packet sent after the 1099s are completed.

• If we do not have a tax preparer on file for you, your 1099 information will be mailed to you via First Class mail no later than January 31, 2023.

Please contact me, Wendi Page, to add or revise your tax preparer.