Social Security Tax Limit 2024 Withholding Meaning. [3] there is an additional 0.9% surtax on top of the. This amount is also commonly referred to as the taxable maximum.

[3] there is an additional 0.9% surtax on top of the. In 2024, workers will pay social security tax on their first $168,600 in wages.

Social Security Tax Limit 2024 Withholding Meaning.

For 2024, the social security tax limit is $168,600.

You Will Pay Federal Income.

That means employees will not have to pay tax on any amount they earn.

You Must Withhold 6.2% From Each Employee’s Wages.

Images References :

If You Need More Information About Tax Withholding, Read Irs Publication 554, Tax Guide For Seniors, And Publication 915, Social Security And Equivalent Railroad Retirement.

We raise this amount yearly to keep pace with increases in average wages.

The 2023 And 2024 Limit For Joint Filers Is $32,000.

The social security employer contribution is also 6.2%.

You Must Withhold 6.2% From Each Employee’s Wages.