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1. en.wikipedia.org › wiki › Social_Security_Wage_BaseSocial Security Wage Base - Wikipedia

   en.wikipedia.org › wiki › Social_Security_Wage_Base

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   Wage Base Increase Maximum Social Security Employee Share Maximum Social Security Employer Share Maximum Total Contribution to Social Security 2024: $168,600: 5.2%: $10,453.20: $10,453.20: $20,906.40 2023: $160,200: 9.0%: $9,932.40: $9,932.40: $19,864.80 2022: $147,000: 2.9%: $9,114.00: $9,114.00: $18,228.00 2021: $142,800: 3.7%: $8,853.60 ...

2. financialducksinarow.com › social-security-maximumFinancial Ducks In A Row • Independent financial advice: IRA ...

   financialducksinarow.com › social-security-maximum

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   Listed below are the maximum taxable earnings for Social Security by year from 1937 to the present. Year. Maximum Taxable Earnings. 1937-1950. $3,000. 1951-1954. $3,600.

   Year	Maximum Taxable Earnings
   2024	$168,600
   2023	$160,200
   2022	$147,000
   2021	$142,800

   See full list on financialducksinarow.com

3. People also ask

   What is Social Security tax rate?

   • It is also the maximum amount of covered wages that are taken into account when average earnings are calculated in order to determine a worker's Social Security benefit . In 2020, the Social Security Wage Base was $137,700 and in 2021 was $142,800; the Social Security tax rate was 6.20% paid by the employee and 6.20% paid by the employer.

   Social Security Wage Base - Wikipedia

   en.wikipedia.org/wiki/Social_Security_Wage_Base

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   When should you withhold Social Security taxes?

   • Only withhold and contribute Social Security taxes until an employee earns above the wage base. Stay up-to-date with the annual Social Security wage base because it generally changes each year. The 2024 Social Security wage base is $168,600, up from the 2023 limit of $160,200.

   2024 Social Security Wage Base | Overview of the Taxable Limit

   www.patriotsoftware.com/blog/payroll/social-security-wage-base/

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   Does Social Security tax have a wage base?

   • Social Security tax is the only federal tax employees pay with a wage base. Although Medicare also makes up FICA tax, it does not have a wage base. Instead, it has an additional tax once an employee earns a certain amount. Keep in mind that some state taxes, like SUTA tax, and federal unemployment tax also have a wage base.

   2024 Social Security Wage Base | Overview of the Taxable Limit

   www.patriotsoftware.com/blog/payroll/social-security-wage-base/

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   What is the Social Security wage base 2024?

   • Stay up-to-date with the annual Social Security wage base because it generally changes each year. The 2024 Social Security wage base is $168,600, up from the 2023 limit of $160,200. After an employee earns above the annual wage base, do not withhold money for Social Security taxes. And, don’t contribute anything else.

   2024 Social Security Wage Base | Overview of the Taxable Limit

   www.patriotsoftware.com/blog/payroll/social-security-wage-base/

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4. www.ssa.gov › OACT › COLAContribution and Benefit Base - The United States Social ...

   www.ssa.gov › OACT › COLA

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   This limit changes each year with changes in the national average wage index. We call this annual limit the contribution and benefit base. This amount is also commonly referred to as the taxable maximum. For earnings in 2024, this base is $168,600.

5. www.ssa.gov › OP_Home › handbookSSA Handbook § 1301 - The United States Social Security ...

   www.ssa.gov › OP_Home › handbook

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   Feb 11, 2013 · The following table lists the maximum amount of wages that can be credited to your Social Security record. 1301.2 How is the maximum wage amount increased each year? For the years after 1981, the maximum wage amount is usually increased by Congress.

   Year	Maximum Earnings	Year	Maximum Earnings
   2013	$113,700	1988	$45,000
   2012	$110,100	1987	$43,800
   2011	$106,800	1986	$42,000
   2010	$106,800	1985	$39,600

   See full list on ssa.gov

6. www.ssa.gov › OACT › ProgDataSocial Security Retirement Benefit Calculation

   www.ssa.gov › OACT › ProgData

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   For example, the case-A indexing factor for 1984 is the average wage for 2022 ($63,795.13) divided by the average wage for 1984 ($16,135.07). We use the highest 35 years of indexed earnings in a benefit computation. The dropped indexed amounts are shown in red.

   Year	Case A, Born In 1962(nominal Earnings)	Case A, Born In 1962(indexing Factor)	Case A, Born In 1962(indexed Earnings)
   1984	$15,086	3.9538	$59,647
   1985	15,779	3.7922	59,838
   1986	16,298	3.6829	60,024
   1987	17,392	3.4621	60,214

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7. www.taxpolicycenter.org › ssrate_historical_2Historical Social Security Tax Rates, 1937 to 2022 [1]

   www.taxpolicycenter.org › ssrate_historical_2

   2015 $118,500 12.4% 2.9% 2016 $118,500 12.4% 2.9% 2017 $127,200 12.4% 2.9% 2018 $128,400 12.4% 2.9% 2019 $132,900 12.4% 2.9%. 2020 $137,700 12.4% 2.9% 2021 $142,800 12.4% 2.9% 2022 $147,000 12.4% 2.9%. Source: Social Security Administration.

8. www.patriotsoftware.com › blog › payroll2024 Social Security Wage Base | Overview of the Taxable Limit

   www.patriotsoftware.com › blog › payroll

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   Nov 27, 2023 · Stay up-to-date with the annual Social Security wage base because it generally changes each year. The 2024 Social Security wage base is $168,600, up from the 2023 limit of $160,200. After an employee earns above the annual wage base, do not withhold money for Social Security taxes.