Social Security Wage Base Limit 2024. We call this annual limit the contribution and benefit base. Only withhold and contribute social security taxes until an employee earns above the wage base.
While the employee is only. This tax rate is applied to your wages paid.
The Maximum Social Security Employer Contribution Will Increase By $520.80 In 2024.
The social security administration (ssa) announced that the maximum earnings subject to social security (oasdi) tax will increase from $160,200 to $168,600.
That There Is No Wage Base Limit For Medicare Tax.
That is due to the social security tax limit or wage base, which is the maximum amount of earnings subject to social security tax.
Social Security Wage Base Limit 2024 Images References :
In 2024, This Limit Rises To $168,600, Up From The 2023.
The $168,600 wage base for 2024 is slightly greater than the wage base.
The Social Security Administration (Ssa) Announced That The Maximum Earnings Subject To Social Security (Oasdi) Tax Will Increase From $160,200 To $168,600.
The social security wage base will rise in 2024 to $168,600, a 5.2% increase from its 2023 wage base of $160,200.