Social Security Tax 2024 Limit. Workers earning less than this limit pay a 6.2% tax on their earnings. In 2024, the maximum amount of earnings on which you must pay social security tax is $168,600.
In 2024, up to $168,600. The limitation under section 402(g)(1) on the exclusion for elective deferrals described in.
Social Security (Oasdi Only) $ 160,200 $ 168,600 Medicare (Hi Only) No Limit.
For 2023, the wage base was $160,200.
The Social Security Wage Base Limit Is $168,600.
March 02, 2024 at 09:30 am est.
For 2024, The Social Security Tax Limit Is $168,600 (Up From $160,200 In 2023).
We call this annual limit the contribution and benefit base.
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This Amount Is Also Commonly Referred To As The Taxable Maximum.
Individuals with multiple income sources.
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For 2023, The Wage Base Was $160,200.
Social security and medicare tax for 2024.