Social Security Tax Cap For 2024. The wage base or earnings limit for the 6.2% social security tax rises every year. The maximum earnings subject to the social security payroll tax will increase by nearly 9%, the social security administration announced.
The 2024 limit is $168,600, up from $160,200 in 2023. An individual who earns under $168,600 in 2024 pays a 6.2% social security tax rate on their entire income.
For Earnings In 2024, This Base Is $168,600.
In 2024, the social security tax limit rises to $168,600.
The Maximum Earnings Subject To The Social Security Payroll Tax Will Increase By Nearly 9%, The Social Security Administration Announced.
The limit on annual earnings subject to social security taxes is referred to as the taxable maximum or the social security tax cap.
Social Security Tax Cap For 2024 Images References :
The Limit On Annual Earnings Subject To Social Security Taxes Is Referred To As The Taxable Maximum Or The Social Security Tax Cap.
Attention taxpayers…starting january 1, 2024, the social security wage base will jump to $168,600 for payroll taxes.
For Earnings In 2024, This Base Is $168,600.
Additionally, social security benefits will increase.
