Social Security Wage Base 2024 Maximum Earnings. For 2024, the fica tax. The social security wage base is the maximum gross earnings subject to social security tax that can be imposed on an employee.
The wage base or earnings limit for the 6.2% social security tax rises. We call this annual limit the contribution and benefit base.
This Amount Is Known As The “Maximum Taxable Earnings” And Changes.
This amount is also commonly referred to.
Here's Why There's A Maximum Annual Social Security Benefit.
The social security wage base will rise in 2024 to $168,600, a 5.2% increase from its 2023 wage base of $160,200.
Social Security Wage Base 2024 Maximum Earnings Images References :
For Earnings In 2024, This Base Is $168,600.
The social security administration (ssa) recently announced that the maximum earnings subject to the social security component of the fica tax will.