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Year Rate Eligible Wages Max Withholding; 2024 1.10% No Cap No Cap 2023 0.90% 153,164 1,378.48 [3]: 2022 1.10% 145,600 1,601.60 [4]: 2021: 1.20%: 128,298: 1,539.58 [5 ...
The total OASDI tax for 2024 is 12.4% of your income — the percentage has remained unchanged since 1990. The tax is split between the employee and the employer. So, you pay 6.2% and your ...
For self-employed people, the 2013 guidance from SSA indicates the full rate OASDI is 12.4% for 2013. See footnote a. at 2013 SSA.gov link. Returning to the traditional 6.2% OASDI employee share for 2013 effectively reduces take home pay by 2% and increases the maximum OASDI contribution by the same amount, returning it to traditional levels.
The OASDI tax rate for wages paid in 2022 is set by statute at 6.2% for employees and employers, so an individual with wages equal to or larger than $147,000 would contribute $9,114 to the OASDI ...
This is certainly true for 2022, where a number of important Social Security metrics changed in line with a rising inflation rate. ... OASDI taxes take out 6.2% for Social Security and 1.45% for ...
Notes: Tax rate is the sum of the OASDI and Medicare rate for employers and workers. In 2011 and 2012, the OASDI tax rate on workers was set temporarily to 4.2% while the employers OASDI rate remained at 6.2% giving 10.4% total rate. Medicare taxes of 2.9% now (2013) have no taxable income ceiling. Sources: Social Security Administration [12] [13]
The 6.2% OASDI tax, which funds various Social Security programs, applies only to the first $147,000 of a worker’s earnings for 2022. But this number is also tied to changes in inflation and is ...
Source: 2015 OASDI Trustees Report. U.S. Social Security Trust Fund: Payroll taxes and revenues add to the fund, while expenses (payouts) reduce it. The 2015 Trustees Report Press Release (which covered 2014 statistics) stated: "Income including interest to the combined OASDI Trust Funds amounted to $884 billion in 2014.