Social Security Tax Limit 2024 Withholding . As an employer, you’ll need to calculate payroll taxes for each of your employees. For 2024, the social security tax limit is $168,600.
Thus, an individual with wages equal to or larger than $168,600. The social security administration (ssa) announced that the maximum earnings subject to social security (oasdi) tax will increase from $160,200 to $168,600.
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Social Security Tax Limit 2024 Withholding Meaning Trude Hortense , You are not required to pay any social security tax on income that goes past the wage base limit, which for 2024 is $168,600, up from $160,200 in 2023.
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