Max Oasdi For 2024. Individual taxable earnings of up to $168,600 annually will be subject to social security tax in 2024, the social security administration (ssa) announced thursday. So, you’re looking at a potential $7,500 increase in the taxable wage base from this year to next.
An employee will pay a total of $10,453.2 in social security tax ($168,600 x 6.2 percent ); The wage base or earnings limit for the 6.2% social security tax rises every year.