Social Security 2024 Tax Limit 2024. The social security wage base is the maximum gross earnings subject to social security tax that can be imposed on an employee. In 2010, the program paid more in benefits and expenses than it collected in taxes and.
The oasdi tax rate for wages paid in 2024 is set by statute at 6.2 percent for employees and employers, each. So, if you earned more than $160,200 this last year, you didn’t have to pay the social security.
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