Social Security Max 2024 Contribution

Social Security Max 2024 Contribution. 2024 social security tax limit increase. The maximum amount of social security tax an employee will have withheld from their paycheck in 2024 is $10,453.20 ($168,600 x 6.2%).

The budget proposes to raise the contribution limit for employers in the private sector from 10% to 14% of the. In 2024, the social security tax known as fica “is assessed against all wages up to a maximum of $168,600,” nancy altman, president of social security.