2024 Social Security Tax Limit Cap. In the first few hours of 2024, over 220 u.s. It’s $4,873 per month if retiring at 70 and $2,710 for retirement at 62.
For 2024, the social security tax limit has been set at $168,600, an increase from the $160,200 limit in 2023. For earnings in 2024, this base is $168,600.
The 2024 Social Security Cap Represents A $8,400 Increase Over 2023.
This means that income above $168,600 is not subject to the 6.2% social security payroll tax for employees and employers.
Only The Social Security Tax Has A Wage Base Limit.
50% of anything you earn over the cap.
2024 Social Security Tax Limit Cap Images References :
Since The Maximum Monthly Limit Is $4,873 Per Month In.
Only the social security tax has a wage base limit.
The Social Security Administration (Ssa) Announced That The Maximum Earnings Subject To Social Security (Oasdi) Tax Will Increase From $160,200 To $168,600 In 2024 (An Increase Of $8,400).
The maximum social security benefit in 2024 is $3,822 per month at full retirement age.
