2024 Social Security Tax Limit Increase . That means that the maximum amount of social security tax an employee will pay (through withholding from their. Social security and supplemental security income (ssi) benefits for more than 71 million americans will increase 3.2 percent in 2024.
For 2024, the cola will be 3.2%. For 2024, the social security tax limit is $168,600 (up from $160,200 in 2023).
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