Social Security Tax 2024 Cap. The limit is $22,320 in 2024. For earnings in 2024, this base is $168,600.
For 2024, that maximum is set at $168,600, an increase of $8,400 from last year. Social security payments are subject to federal income tax in 2024, but only if combined income exceeds certain limits.
The Maximum Amount Of Earnings Subject To The Social Security Tax (Taxable Maximum) Will Increase To $168,600.
Updated on march 4, 2024.
Written By Hunter Kuffel, Cepf®.
This amount is known as the “maximum taxable earnings” and changes each year.
The Oasdi Tax Rate For Wages Paid In 2024 Is Set By Statute At 6.2 Percent For Employees And Employers, Each.
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Social Security Payments Are Also Subject To State.
Written by hunter kuffel, cepf®.
Latest News, Live Updates Today May 23, 2024:
This amount is also commonly referred to as the taxable maximum.
The Social Security Administration (Ssa) Announced That The Maximum Earnings Subject To Social Security (Oasdi) Tax Will Increase From $160,200 To $168,600 In 2024 (An Increase Of $8,400).