2024 Social Security Tax Limit Cap 2024

2024 Social Security Tax Limit Cap 2024. The federal government sets a limit on how much of your income is subject to the social security tax. The social security wage cap will be increased from the 2023 limit of $160,200 to the new 2024 limit of $168,600.

If your social security income is taxable depends on your income from other sources. The tax rate is 12.4%, split evenly between employer and employee.