Social Security Tax Wage Limit 2024 Opm. Outlay on compensation of employees increased by $35 million to total $629 million, representing 73.5 percent of the budget. According to the intermediate projection issued in a may 2024 report, the social security taxable wage next year will be $174,900.
So, if you earned more than $160,200 this last year, you won’t. Maximum taxable earnings ( en español) if you are working, there is a limit on the amount of your earnings.
The Social Security Limit Is $168,600 For 2024, Meaning Any Income You Make Over $168,600 Will Not Be Subject To Social Security Tax.
Updated table approved on 05/14/2024, per department of homeland security request and based on supporting salary and staffing.
1.45% Medicare Tax On The First $200,000 Of Employee Wages, Plus;
The maximum amount of social security tax an employee will have withheld from.
The 2024 Pay Tables Have Been Published On Opm’s Website, And Can Be Viewed Here.
Images References :
In 2024, This Limit Rises To $168,600, Up From The 2023.
Social security wage base limit 2024 opm.
1.45% Medicare Tax On The First $200,000 Of Employee Wages, Plus;
In 2024, the social security wage base limit rises to $168,600.
This 5.2% Increase Means That More Of Your Income Could.
