Social Security Tax Limit 2024 Increase
Social Security Tax Limit 2024 Increase. The wage base limit is the maximum wage that's subject to the tax for that year. The wage base or earnings limit for the 6.2% social security tax rises every year.
You file a federal tax return as an individual and your combined income is more than $34,000. Individual taxable earnings of up to $168,600 annually will be subject to social security tax in 2024, the social security administration (ssa) announced thursday.
