Social Security Wage Base 2024 Estimate. So, you’re looking at a potential $7,500 increase in the taxable wage base from this year to next. The social security administration (ssa) announced that the maximum earnings subject to social security (oasdi) tax will increase from $160,200 to $168,600.
Of course, both employers and employees pay the 6.2% social security tax rate,. In reviewing the chart shown on the following page, keep in mind that the ssa provides.
The Wage Base Or Earnings Limit For The 6.2% Social Security Tax Rises Every Year.
The national average wage index for 2022 is 63,795.13.
So If A Person Reaches Age 62 In 2024, Then 2024.
The wage base limit is the maximum wage that’s subject to the tax for that year.
Social Security Wage Base 2024 Estimate Images References :
See What You Might Receive.
The index is 5.32 percent higher than the index for 2021.
Benefit Estimates Depend On Your Date Of Birth And On Your Earnings History.
The social security administration (ssa) announced that the maximum earnings subject to social security (oasdi) tax will increase from $160,200 to $168,600.