Maximum Social Security Tax 2024 Amount

Maximum Social Security Tax 2024 Amount. For employees, the maximum social security tax in 2024 is the product of the tax rate (6.2%) and the maximum taxable earnings ($147,000). That means that the maximum amount of social security tax an employee will pay (through withholding from their.

We raise this amount yearly to keep pace with increases in average wages. For 2024, the social security tax limit is $168,600.