The social security wage base —. The maximum amount of earnings subject to social security tax (taxable maximum) will increase to $168,600 from $160,200.
This increase is part of the cost of living adjustment. The most you will have to pay in social security taxes for 2024 will be $10,453.
That’s What You Will Pay If You Earn $168,600 Or More.
This increase is part of the cost of living adjustment.
What’s The Maximum You’ll Pay Per Employee In Social Security Tax Next Year?
Thus, an individual with wages equal to or larger than $168,600.
Images References :
Federal Government Has Announced A $600 Increase In Social Security Benefits For Eligible Citizens In 2024.
Last updated 12 february 2024.
The Maximum Amount Of Earnings Subject To Social Security Tax (Taxable Maximum) Will Increase To $168,600 From $160,200.
The maximum social security benefit in 2024 is $3,822 per month at full retirement age.