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The Social Security tax is one component of the Federal Insurance Contributions Act tax ... 2024: $168,600: 5.2%: $10,453.20: $10,453.20: ... In 2013, the employee ...
The increase in 2025 will perhaps have the biggest impact on those earning between $168,600 and $176,100 per year, as you'll face Social Security tax on income that wasn't previously taxed in 2024.
In 2024, the maximum earnings subject to Social Security taxes was $168,600. This means workers paying into the system are taxed on wages up to this amount, typically at the 6.2 percent rate.
That's because you don't pay Social Security payroll taxes on all your income. In 2024, you only paid these taxes on the first $168,600 you earned. In prior years, this limit was lower .
After 2024, your Social Security cost-of-living adjustment is projected to be smaller. ... The maximum amount of earnings subject to the Social Security payroll tax rose to $168,600 in 2024 from ...
The general Social Security earnings-test limit in 2025 is $23,400 (up from $22,320 in 2024). You'll have $1 in Social Security withheld for every $2 you earn above that limit.
Income Limits 2024. Income Limits 2025. Benefit Reductions. If you're under FRA. $22,320 per year. $23,400 per year. $1 for every $2 over the limit. If you'll reach your FRA this year. $59,520 per ...
Those tax rates don't change for 2025, but the amount of your income that's taxed for Social Security will. ... That limit was $22,500 for the year in 2024, and it rises to $23,400 for 2025 ...