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Social Security Tax 2024 Limit
Social Security Tax 2024 Limit. Workers earning less than this limit pay a 6.2% tax on their earnings. In 2024, the maximum amount of earnings on which you must pay social security tax is $168,600.
In 2024, up to $168,600. The limitation under section 402(g)(1) on the exclusion for elective deferrals described in.
Social Security (Oasdi Only) $ 160,200 $ 168,600 Medicare (Hi Only) No Limit.
For 2023, the wage base was $160,200.
The Social Security Wage Base Limit Is $168,600.
March 02, 2024 at 09:30 am est.
For 2024, The Social Security Tax Limit Is $168,600 (Up From $160,200 In 2023).
We call this annual limit the contribution and benefit base.
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This Amount Is Also Commonly Referred To As The Taxable Maximum.
Individuals with multiple income sources.
2024 Brings Encouraging News For Those Saving For Retirement.
Why millionaires may have already hit their social security payroll tax limit for 2024.
