Last year, the maximum taxable earnings for the oasdi tax was $160,200. (for 2023, the tax limit was $160,200.
(for 2023, the tax limit was $160,200. In 2024, the social security tax limit rises to $168,600.
That Means The Maximum Any Person Can Pay.
What is the social security limit?
What Is The Oasdi Limit 2024?
The federal government sets a limit on how much of your income is subject to the social security tax.
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This Amount Is Also Commonly Referred To As The Taxable Maximum.
We call this annual limit the contribution and benefit base.
The Social Security Administration (Ssa) Announced That The Maximum Earnings Subject To Social Security (Oasdi) Tax Will Increase From $160,200 To $168,600.
The oasdi tax rate for wages paid in 2024 is set by statute at 6.2 percent for employees and.