Social Security Tax Limit 2024

Social Security Tax Limit 2024. In 2024, the social security tax limit is set at $168,600, a notable increase from the $160,200 limit in 2023. The maximum earnings subject to the social security payroll tax will increase by nearly 9%, the social security administration announced.

We call this annual limit the contribution and benefit base. For 2024, the social security tax limit is $168,600 (up from $160,200 in 2023).