Maximum Social Security Tax 2024 Withholding Table
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Cyndi Dorelle >> 2024 >> Maximum Social Security Tax 2024 Withholding Table
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Maximum Social Security Tax 2024 Withholding Table. The current tax rate for social security is 6.2% for the employer and 6.2% for the employee, or 12.4% total. [3] there is an additional 0.9% surtax on top of the.
The social security wage base limit is. For 2024, an employer must withhold:
That’s What You Will Pay If You Earn $168,600 Or More.
The maximum amount of social security tax an employee will have withheld from their paycheck in 2024 is $10,453.20 ($168,600 x 6.2%).
So, If You Earned More Than $160,200 This Last Year, You Didn't Have To.
The social security wage cap will be increased from the 2023 limit of $160,200 to the new 2024 limit of $168,600.
Maximum Social Security Tax 2024 Withholding Table Images References :
Generally, Each Employer For Whom You Work During The Tax Year Must Withhold Social Security Tax Up To The Annual Limit.
The results suggest that contractors evaded at least $19.3 million in overtime and premium.
So, If You Earned More Than $160,200 This Last Year, You Didn't Have To.