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Social Security Tax Limit 2024 Increase. The social security administration (ssa) announced that the maximum earnings subject to social security (oasdi) tax will increase from $160,200 to $168,600 in 2024 (an increase of $8,400). Only the social security tax has a wage base limit.
The maximum amount of earnings subject to the social security tax (taxable maximum) will increase to. Up to $168,600 of earnings will be subject to social security tax in 2024, raising the taxes taken out of a high earner’s paycheck to $10,453.
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