Social Security Tax Limit 2024 Withholding Rate. Salaries earned above that amount are no longer subject to additional social security taxes for the calendar year. 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).

So, if you earned more than $160,200 this last year, you didn’t have to pay the social security. Social security taxes in 2024 are 6.2 percent of gross wages up to $168,600.