The social security administration (ssa) announced that the maximum earnings subject to social security (oasdi) tax will increase from $160,200 to $168,600 in 2024 (an increase of $8,400). Increased payments to approximately 7.5 million ssi recipients will begin on december 29, 2023.
For earnings in 2024, this base is $168,600. In 2023, you paid social security taxes on work income up to $160,200.
Some People Receive Both Social Security And Ssi Benefits) Read More.
Most states and the district of.
So, If You Earned More Than $160,200 This Last Year, You Didn't Have To.
The largest ever was 14.3% in the 1980s.
Images References :
Most States And The District Of.
Next year, the wage cap for social security is likely to go up again.
In 2024, The Wage Cap Rose To $168,600 But Was $160,200 The Year Before.
In 2023, you paid social security taxes on work income up to $160,200.
