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10 sty 2024 · The Social Security tax limit is the maximum amount of earnings subject to Social Security tax. Workers who earn less than the limit will pay a 6.2% tax on their earnings. The Social Security...
The wage base or earnings limit for the 6.2% Social Security tax rises every year. The 2024 limit is $168,600, up from $160,200 in 2023.
If you are working, there is a limit on the amount of your earnings that is taxable by Social Security. This amount is known as the “maximum taxable earnings” and changes each year. The maximum taxable earnings have changed over the years, as shown in the chart below.
15 paź 2024 · The Social Security tax limit will rise to $176,100 in 2025. (The 2024 tax limit is $168,600.) This 4.4% increase is less than the 5.2% jump from 2023 to 2024.
12 paź 2024 · Social Security tax is calculated as a percentage of gross earnings, up to a certain limit. Every year, the government sets a limit on the amount of your earnings that can be taxed for Social...
13 gru 2023 · The limit on annual earnings subject to Social Security taxes is referred to as the taxable maximum or the Social Security tax cap. For 2024, that maximum is set at $168,600, an increase of $8,400 from last year.
31 sie 2023 · The maximum amount of earnings subject to Social Security tax is $160,200 in 2023. Earnings above the tax cap aren't taxed by Social Security or used to calculate retirement benefits.
