Maximum Social Security Tax Withholding 2024. So, you’re looking at a potential $7,500 increase in the taxable wage base from this year to next. The social security tax rate.
Workers earning less than this limit pay a 6.2% tax on their earnings. We call this annual limit the contribution and benefit base.
Only The Social Security Tax Has A Wage Base Limit.
Individuals with multiple income sources will want to track.
Of Course, Both Employers And Employees Pay The 6.2% Social Security Tax Rate,.
In 2024, the maximum amount of earnings on which you must pay social security tax is $168,600.
Maximum Social Security Tax Withholding 2024 Images References :
The Wage Base Limit Is The Maximum Wage That's Subject To The Tax For That Year.
In 2024, the social security tax limit rises to $168,600.
We Raise This Amount Yearly To Keep Pace With Increases In Average Wages.
So, you’re looking at a potential $7,500 increase in the taxable wage base from this year to next.
