Social Security Tax Withholding Maximum 2024. In 2023, the limit was $160,200. The annual limit is $168,600 in 2024.
In 2023, only the first $160,200 of your earnings are subject to the social security tax. This amount is also commonly referred to.
The Social Security Wage Base Limit Is $168,600.The Medicare Tax Rate Is 1.45% Each For The Employee And Employer, Unchanged From 2023.
I.e., 6.20% × $168,600), plus;
In 2023, Only The First $160,200 Of Your Earnings Are Subject To The Social Security Tax.
The annual limit — called the.
So, People Making Over $168,600 In 2024 Will Be Paying About $521 More In Social.
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If You Need More Information About Tax Withholding, Read Irs Publication 554, Tax Guide For Seniors, And Publication 915, Social Security And Equivalent Railroad Retirement.
Social security withholding tax changes for 2024, the wage base limit will be $168,600 annually, up from $160,200 in 2023.
For 2024, The Social Security Tax Limit Is $168,600.
In 2024, the maximum amount of earnings on which you must pay social security tax is $168,600.