Social Security Tax Limit 2024 Amount Increase

Social Security Tax Limit 2024 Amount Increase. 5.8 million people were newly awarded social security benefits. The social security wage base for 2023 is $160,200, and $168,600 in 2024.


Social Security Tax Limit 2024 Amount 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). While most social security recipients aged 65 and older will have benefits high enough to cover the $10.30 per month increase of part b premiums from $174.70 to $185.00,.

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