In fact, with the exemption in effect, shoppers from the suburbs and perhaps those from nearby parts of Connecticut, which has a 6.35 percent sales tax, might be enticed by a simple calculation: Shop for clothes (under $110) in New York City, and pay no sales tax. And city residents might be enticed to stay.
For example, if you're 64 years old, taking home $1,100 a month in Social Security benefits ($13,200 annually), and you earn $24,000 in wages in 2016, you can expect the SSA to reduce your 2016 annual benefit by $4,140 ($24,000 minus $15,720, then divided by $2). Your net benefit would be $9,060.
The biggest Social Security benefit that will be paid in 2017 is $3,538 per month. Mar 13, 2016 at 6:03PM. This article was updated on April 5, 2017, and was originally published on March 3, 2016. I won't keep you in suspense: The maximum Social Security Benefit is $3,538 per month in 2017, but don't get too excited yet.