Social Security Wage Limit 2024

Social Security Wage Limit 2024. The limit is $22,320 in 2024. Seniors who earned that much for 35 or more years and who waited until 70.

Only the social security tax has a wage base limit. The wage base or earnings limit for the 6.2% social security tax rises every year.

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

(for 2023, the tax limit was $160,200.

Social Security Wage Limit 2024 Images References :

So, if you earned more than $160,200 this last year, you didn't have to pay the social security.

The maximum earnings that are taxed have changed through the years as shown in the chart below.