Social Security Max Tax 2024
Social Security Max Tax 2024. We raise this amount yearly to keep pace with increases in average wages. In 2024, the maximum amount of earnings on which you must pay social security tax is $168,600.
Employers pay the other 6.2%. 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).