What Is The Social Security Wage Cap For 2024. May 20, 2024, 15:24 ist. The 2024 social security wage base is $168,600, up from the 2023 limit of $160,200.
This means the maximum possible social security withholding in 2024 is. Ssa estimates wage base of $167,700 in 2024.
The 2024 Social Security Wage Base Will Rise To $168,600.
After an employee earns above the annual wage base, do not withhold money.
This Year, That Cap Is $168,600.
May 20, 2024, 15:24 ist.
Workers Earning Less Than This Limit Pay A 6.2% Tax On Their Earnings.
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This Amount Is Known As The “Maximum Taxable Earnings” And Changes Each.
This year, that cap is $168,600.
If You Are Working, There Is A Limit On The Amount Of Your Earnings That Is Taxed By Social Security.
For earnings in 2024, this base is $168,600.
The Internal Revenue Service Has Announced An Increase In The Social Security Wage Base To $168,600, Up From $160,000.