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Social Security Tax Limit 2024 Withholding Rate. When you calculate how much of your social security benefit is taxable, use the $2,000/month number and multiply that by the number of months to get the annual. The limit for 2023 and 2024 is $25,000 if you are a single filer, head of household or qualifying widow or widower with a dependent child.

Adjust their payroll systems to account for the higher taxable wage base under the social security payroll tax. The social security limit is $168,600 for 2024, meaning any income you make over $168,600 will not be subject to social security tax.