Social Security Tax Wage Limit 2024. 11 rows if you are working, there is a limit on the amount of your earnings that is taxed by social security. The social security payroll tax wage base was $160,200 last year.
You file a federal tax return as an individual and your combined income is between $25,000 and $34,000. The social security administration limits the amount of employee earnings that are subjected to social security tax each year.
As Kiplinger Reported, The Social Security Tax Wage Base Jumped 5.2% From 2023 To 2024.
The wage base or earnings limit for the 6.2% social security tax rises every year.
Workers Earning Less Than This Limit Pay A 6.2% Tax On Their Earnings.
In 2024, the wage base limit is $168,600.
Up To 50% Of Your Social Security Benefits Are Taxable If:
Images References :
For 2024, The Social Security Tax Limit Is $168,600.
For earnings in 2024, this base is $168,600.
Up To 50% Of Your Social Security Benefits Are Taxable If:
The social security administration limits the amount of employee earnings that are subjected to social security tax each year.
This Amount Is Also Commonly Referred To As The Taxable Maximum.