Social Security Tax Limit 2024 Increase Chart. 11 rows if you are working, there is a limit on the amount of your earnings that is taxable by. We raise this amount yearly to keep pace with increases in average wages.
The maximum amount of earnings subject to the social security tax (taxable maximum) has increased to $168,600 for 2024, up from $160,200 in 2023. The wage base or earnings limit for the 6.2% social security tax rises every year.