Max Social Security Tax 2024 Withholding Amount. The social security limit is $168,600 for 2024, meaning any income you make over $168,600 will not be subject to social security tax. You can have 7, 10, 12 or 22 percent of your monthly benefit withheld for taxes.
For 2024, the maximum amount of income subject to the tax is $168,600, capping the maximum annual employee contribution at $10,453.20. As a result, in 2024 you’ll pay no more than $10,453 ($168,600 x 6.2%) in social security taxes.
Up To 85% Of Your Social Security Benefits Are Taxable If:
Workers earning less than this limit pay a 6.2% tax on their earnings.
Of Course, Both Employers And Employees Pay The 6.2% Social Security Tax Rate, Which Means There Could Be A Max Payment Next Year Of:
This amount is also commonly referred to as the taxable maximum.
So, If You Earned More Than $160,200 This Last Year, You Won't.
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The Amount Is Set By.
In 2024, this limit rises to $168,600, up from the 2023 limit of $160,200.
Only These Percentages Can Be Withheld.
For earnings in 2024, this base.
The Maximum Social Security Employer Contribution Will.