2024 Social Security Tax Limit

According to the intermediate projection issued in a may 2024 report, the social security taxable wage next year will be $174,900. This amount is also commonly referred to as the taxable maximum.

Workers earning less than this limit pay a 6.2% tax on their earnings. Published may 31, 2024 updated june 4, 2024.

Individuals With Multiple Income Sources Will Want To Track Their.

For earnings in 2024, this base is $168,600.

We Call This Annual Limit The Contribution And Benefit Base.

The canada revenue agency administers tax laws for the government, providing contacts, services, and information related to payments, taxes, and benefits for individuals and businesses.

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This Amount Is Also Commonly Referred To As The Taxable Maximum.

The maximum social security employer contribution will increase by $520.80 in 2024.

The Limit For 2023 And 2024 Is $25,000 If You Are A Single Filer, Head Of Household Or Qualifying Widow Or Widower With A Dependent Child.

Social security updates the limit based on the average wage.

2024