Social Security Max 2024 Tax Increase

Social Security Max 2024 Tax Increase. We call this annual limit the contribution and benefit base. After that, the proposal would index annual.

The social security administration recently announced that the wage base for computing social security tax will increase to $168,600 for 2024 (up from $160,200 for 2023). The federal government sets a limit on how much of your income is subject to the social security tax.