Premiums for Part B are standard for most retirees. However, if your annual income exceeds the maximum, you’ll be required to pay a surcharge.

Social Security imposes tax liability on how much income you earn while collecting your benefit. Other sources of income may also factor into those tax liabilities.

There are many factors that go into how much your Social Security benefit check is, but how much money you earned over the course of your lifetime has the biggest effect.