Social Security Maximum Taxable Earnings 2024. In 2024, the maximum earnings subject to social security payroll taxes will rise to $168,600 from $160,200. The wage base limit is the maximum wage that's subject to the tax for that year.
The same financial buzzword that surrounded us in 2023 is following us into 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.
In 2024, Workers Will Pay Social Security Tax On Their First $168,600 In Wages.
This amount is also commonly referred to as the taxable maximum.
However, If Youโre Married And File Separately, Youโll Likely Have To Pay Taxes On Your Social Security Income.
The social security administration (ssa) announced that the maximum earnings subject to social security (oasdi) tax will increase from $160,200 to $168,600.
Up To 85% Of Your Social Security Benefits Are Taxable If:
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The Social Security Payroll Tax Covers More Income.
The 2023 and 2024 limit for joint filers is $32,000.
Up To 85% Of Your Social Security Benefits Are Taxable If:
What is the social security tax limit?
The Wage Base Limit Is The Maximum Wage That's Subject To The Tax For That Year.