Social Security Tax Rate 2024 Limit. Here are projections for the 2025 irmaa brackets and surcharge amounts: The tax rate for an employee's portion of the social security tax is 6.2%.
Social security tax must be withheld at 6.2% until employees’ wages reach this limit. This is up from $9,932.40.
Social Security Tax Limit Jumps 5.2% For 2024;
The social security wage cap will be increased from the 2023 limit of $160,200 to the new 2024 limit of $168,600.
The Social Security Tax Rate Is 12.4 Percent In Total Where You And Your Employer Pay 6.2 Percent Each.
Tax rates for each social security trust.
Social Security Tax Rate 2024 Limit Images References :
Tax Rates For Each Social Security Trust.
The tax rate for an employee's portion of the social security tax is 6.2%.
In 2024, Only The First $168,600 Of Your Earnings Are Subject To The Social Security Tax.