Fica Annual Limit 2024. The maximum annual earnings that are subject to social security tax in 2023 is $160,200, for a total tax of $9,932.40. For 2024, an employer must withhold:
Attention to detail is important when discussing fica rates and limits, as they may change each calendar year. This limit, known as the wage base limit, changes yearly based on inflation and is $168,600 in 2024.
How Much Are Social Security Taxes?
You arenโt required to pay the social security tax on any income beyond the social security wage base limit.
We Call This Annual Limit The Contribution And Benefit Base.
This amount is also commonly referred to.
What Are The Fica Taxes?
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In 2024, The First $168,600 Is Subject To The.
For 2024, the social security tax limit is $168,600 (up from $160,200 in 2023).
For 2024, The Maximum Income Subject To The Social Security Portion Of The Fica Tax Is $147,000.
For 2024, the amount is $168,600, for a total.
This Limit, Known As The Wage Base Limit, Changes Yearly Based On Inflation And Is $168,600 In 2024.