Social Security Max 2024 Withholding. The social security administration (ssa) announced that the maximum earnings subject to social security (oasdi) tax will increase from $160,200 to $168,600 in 2024 (an increase of $8,400). You may then end up with total social security taxes withheld that exceed the maximum.
For 2023, the wage base was $160,200. Both employees and employers must pay social security tax and split the total amount due for each employee.
The Oasdi Tax Rate For Wages Paid In 2024 Is Set By Statute At 6.2 Percent For Employees And Employers, Each.
In 2024, the social security tax withholding rate remains.
What Is The Maximum Possible Social Security Benefit In 2024?
Social security and medicare withholding rates the current tax rate for social security is 6.2% for the employer and 6.2% for the employee, or 12.4% total.
You Will Pay Federal Income.
Images References :
So, If You Earned More Than $160,200 This Last Year, You Won't.
However, if you retire at.
The Social Security Administration (Ssa) Announced That The Maximum Earnings Subject To Social Security (Oasdi) Tax Will Increase From $160,200 To $168,600 In 2024 (An Increase Of $8,400).
In 2024, the maximum amount of earnings on which you must pay social security tax is $168,600.
The 2024 Tax Limit Is $8,400 More Than The 2023 Taxable Maximum Of $160,200 And $61,800.