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What Is the Maximum Social Security Tax in 2023?

Here's how much Social Security tax high earners have to pay and what might change in the future.

By Matt Frankel, CFP – Jun 24, 2023 at 6:17AM EST

Social Security tax is one of several taxes withheld from Americans' paychecks, and many people don't understand where the numbers come from. In this video, Certified Financial Planner® Matt Frankel discusses the Social Security tax and the maximum amount you may have to pay in 2023.

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About the Author

Matt Frankel, CFP
Matt Frankel, CFP, is a contributing Motley Fool stock market analyst specializing in the real estate and financial sectors. Prior to The Motley Fool, Matt taught high school and college mathematics. He holds a bachelor’s degree in physics from the University of South Carolina, a master’s degree in mathematics from Nova Southeastern University, and a graduate certificate in financial planning from Florida State University. He won a SABEW award for coverage of the 2017 Tax Cuts and Jobs Act. He is also regularly interviewed by Cheddar, Globe St, The National Desk, and other TV networks and publications for his real estate, financial, stock market, and investing expertise.
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The Motley Fool has a disclosure policy.

Matthew Frankel is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through their link, they will earn some extra money that supports their channel. Their opinions remain their own and are unaffected by The Motley Fool.

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