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The maximum taxable income has increased from $147,000 to $160,200 in 2023. And with that, the maximum Social Security employer contribution will increase to $818.40 in 2023.
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1. Social Security payments increased by a whopping 8.7%
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2. Medicare Part B premiums will drop significantly.
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3. Those who are younger than their full retirement age can earn up to about $21,240 from the SSA before their benefits are temporarily suspended.
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