Social Security Tax Wage Limit 2024 Opm. Individual taxable earnings of up to $168,600 annually will be subject to social security tax in 2024, the social security administration (ssa) announced thursday. Individuals with multiple income sources.
This amount is known as the “maximum taxable earnings” and changes. Thus, an individual with wages equal to or larger than $168,600.
The Social Security Administration Recently Announced That The Wage Base For Computing Social Security Tax Will Increase To $168,600 For 2024 (Up From $160,200.
6.2% social security tax on the first $168,600 of wages (6.2% x $168,600 makes the maximum tax $10,453.20), plus.
50% Of Anything You Earn Over The Cap.
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.
Social Security Tax Wage Limit 2024 Opm Images References :
11 Rows If You Are Working, There Is A Limit On The Amount Of Your Earnings That Is Taxed By Social Security.
This amount is known as the “maximum taxable earnings” and changes.
The Social Security Tax Wage Base Is Increasing By 5.2% For 2024.
6.2% social security tax on the first $168,600 of wages (6.2% x $168,600 makes the maximum tax $10,453.20), plus.