Starting in 2024, the maximum amount of earnings subject to social security tax will rise from $160,200 to $168,600. The 2024 limit is $168,600, up from $160,200 in 2023.
Like monthly benefits, the wage base limit is adjusted for. After an employee earns above the annual wage base, do not withhold.
The 2024 Social Security Wage Base Is $168,600, Up From The 2023 Limit Of $160,200.
In 2024, you can earn up to $22,320 without having your social security benefits withheld.
This 5.2% Increase Means That More Of Your Income Could.
The internal revenue service has announced an increase in the social security wage base to $168,600, up from $160,000.
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Starting In 2024, The Maximum Amount Of Earnings Subject To Social Security Tax Will Rise From $160,200 To $168,600.
In 2024, the social security tax limit rises to $168,600.
Age 65 To 67 (Your Full Retirement Benefits Age):
For 2024, the social security tax limit is $168,600 (up from $160,200 in 2023).