This amount is known as the “maximum taxable earnings” and changes each year. As kiplinger reported, the social security tax wage base jumped 5.2% from 2023 to 2024.
The social security payroll tax wage base was $160,200 last year. Using the “intermediate” projections, the board projects the social security wage base will be $167,700 in 2024 (up from $160,200 this year) and will increase to $230,100 by 2032.
So, If You Earned More Than $160,200 This Last Year, You Didn't Have To Pay The Social Security.
The maximum social security employer contribution will increase by $520.80 in 2024.
For Earnings In 2024, This Base Is $168,600.
You file a joint return, and.
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The Maximum Amount Of Earnings Subject To The Social Security Tax (Taxable Maximum) Will Increase To $168,600.
For 2024, the social security tax limit is $168,600.
You File A Federal Tax Return As An Individual And Your Combined Income Is Between $25,000 And $34,000.
For 2024, the social security tax limit is $168,600.