Social Security Taxable Wage Cap 2024. The social security limit is $168,600 for 2024, meaning any income you make over $168,600 will not be subject to social security tax. The social security administration (ssa) has announced that the maximum earnings subject to the social security payroll tax will increase by $8,400 in 2024.
The 2024 limit is $168,600, up from $160,200 in 2023. In 2024, the maximum amount of earnings on which you must pay social security tax is $168,600.
Workers Earning Less Than This Limit Pay A 6.2% Tax On Their Earnings.
The social security wage base will rise in 2024 to $168,600, a 5.2% increase from its 2023 wage base of $160,200.
This Is The Amount You Can Invest Each Year Without Your Contributions Being Subject To Extra Tax.
After an employee earns above the annual wage base, do not withhold.
The Social Security Administration Also Announced The 2024 Wage Cap.
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The Social Security Wage Base —.
This is the amount you can invest each year without your contributions being subject to extra tax.
Workers Earning Less Than This Limit Pay A 6.2% Tax On Their Earnings.
For 2024, the social security tax limit is $168,600 (up from $160,200 in 2023).
We Raise This Amount Yearly To Keep Pace With Increases In Average Wages.
