Social Security Tax Limit 2024 Withholding 2024. For this calculation we have used the maximum tax rate bracket for 2024 of 39.6% (althought that my change if the bush tax cuts are extended). The first $168,600 of your wages is.

The rate of social security tax on taxable wages is 6.2% each for the employer and employee.  — social security withholding tax changes for 2024, the wage base limit will be $168,600 annually, up from $160,200 in 2023.