2024 Social Security Taxes

As usual the wage base for the 6.2 percent Social Security tax will increase. (FYI: The 1.45 percent Medicare tax is imposed on all wages) 

The 2024 social security wage base will be $168,600, which is an increase of $8,400 from $160,200 in 2023 .

The maximum social security tax employees and employers will each pay in is $10,453.20, an increase of $520.80 from $9,932.40 in 2023.