Social Security Tax Limit 2024 Rate Increase

Social Security Tax Limit 2024 Rate Increase. The maximum employee share of the social security tax contribution will increase from $9,932.40 to. The government is expected to borrow another $4 trillion to make up the social security deficit.

For 2024, the social security tax limit is $168,600, and it will increase to $176,100 in 2025. Individual taxable earnings of up to $168,600 annually will be subject to social security tax in 2024, the social security administration (ssa) announced thursday.