Social Security Tax Limit 2024 Increase. The maximum social security benefit for a worker retiring at full retirement age will increase to $3,822 per month in 2024 from $3,627 in 2023. As per the social security tax limit for 2024, employees and employers pay a social security tax rate of 6.2% of employee compensation each year, for a total of 12.4% as of the.
You file a federal tax return as an individual and your combined income is between $25,000 and $34,000. The maximum amount of earnings subject to the social security tax (taxable maximum) will increase to.
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