Social Security Tax Rate 2024 Limit. The tax rate is 12.4%, split evenly between employer and employee. The tax rate for an employee's portion of the social security tax is 6.2%.
The rate of social security tax on taxable wages is 6.2% each for the employer and employee. You file a federal tax return as an individual and your combined income is between $25,000 and $34,000.
That's Because The Irs Adjusts The Maximum Earnings Threshold For Social Security Each Year.
The social security administration (ssa) announced that the maximum earnings subject to social security (oasdi) tax will increase from $160,200 to $168,600.
11 Rows If You Are Working, There Is A Limit On The Amount Of Your Earnings That Is Taxed By Social Security.
The tax rate for an employee’s portion of the social security tax is 6.2%.
Social Security Tax Rate 2024 Limit Images References :
Social Security And Medicare Tax For 2024.
The maximum amount of social security tax an employee will have withheld from.
Age 65 To 67 (Your Full Retirement Benefits Age):
For 2024, the social security tax limit is $168,600.
