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The maximum taxable income is the amount of wages on which you pay Social Security taxes, which are deducted from your earnings. In 2023, the maximum taxable income is $168,600 a year, up from ...
The employer Social Security tax rate and the Social Security Wage Base were not directly impacted by this act, though they did change; only the employee's tax rate changes. This is reflected in the above table, showing the reduction from $6,621.60 to $4,485.60.
This is the maximum amount of your income subject to Social Security payroll taxes each year. ... Wage Base Limit. 2025. $176,100. 2024. $168,600 ... Social Security payroll taxes on any income ...
For the 2023 tax year, your employer has to stop taking out Social Security taxes when your income surpasses $160,200. You're still obligated to pay the taxes on all income less than that amount.
It changes from year to year; the max Social Security taxable income for tax-year 2023 is $162,300, and for 2024 it’s $168,600. These caps reflect the fact that your ultimate Social Security ...
In addition to the COLA, Tierney said, “Social Security also made its annual adjustments in other items for 2024, including the maximum taxable earnings amount ($168,600) and the earnings limit ...