Maximum Social Security Tax 2024 Amount. For earnings in 2024, this base is $168,600. In that scenario, workers will pay up to $391 more in social security taxes in 2025.
We raise this amount yearly to keep pace with increases in average wages. For employees, the maximum social security tax in 2024 is the product of the tax rate (6.2%) and the maximum taxable earnings ($147,000).
That’s What You Will Pay If You Earn $168,600 Or More.
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.
Maximum Taxable Amount For Social Security Tax.
You file a federal tax return as an individual and your combined income is between $25,000 and $34,000.
For 2024 That Limit Is $22,320.
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It’s $4,873 Per Month If Retiring At 70 And $2,710 For Retirement At 62.
For earnings in 2024, this base is $168,600.
The Maximum Social Security Benefit In 2024 Is $3,822 Per Month At Full Retirement Age.
We call this annual limit the contribution and benefit base.