2024 Maximum Social Security Taxable Income. Earnings above that threshold aren't taxed for social security. Maximum taxable earnings each year.
There is no maximum earnings amount for medicare tax. See current federal tax brackets and rates based on your income and filing status.
Up To 85% Of Your Social Security Benefits Are Taxable If:
You arenโt required to pay the social security tax on any income beyond the social security wage base limit.
This Amount Is Known As The Maximum.
One proposal to raise the tax cap would apply payroll taxes to people making more than $250,000 a year without raising benefit payouts.
If All Wages Were Taxed At The Same Rate, It Could Provide A Major Influx.
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This Amount Is Known As The Maximum.
In 2024, the maximum amount of earnings on which you must pay social security tax is $168,600.
In 2024, Employees Are Required To Pay A 6.2% Social Security Tax (With Their Employer Matching That Payment) On Income Up To $168,600, Up From $160,200 In.
See current federal tax brackets and rates based on your income and filing status.
The 2023 And 2024 Limit For Joint Filers Is $32,000.