Social Security Tax Limit In 2024
Social Security Tax Limit In 2024. Up to 85% of a taxpayer's benefits may be taxable if they are: Individuals with multiple income sources.
Specifically, the government collects a 12.4% tax on wages to pay for retirement benefits. The oasdi tax rate for wages paid in 2024 is set by statute at 6.2 percent for employees and employers, each.