Social Security Tax Wage Limit 2024

Social Security Tax Wage Limit 2024. The oasdi tax rate for wages paid in 2024 is set by statute at 6.2 percent for employees and employers, each. Employees paid the 6.2% social security tax, with their employer matching that payment, on income of up to $160,200 in 2023.

This amount is known as the “maximum taxable earnings” and changes. Employees paid the 6.2% social security tax, with their employer matching that payment, on income of up to $160,200 in 2023.