Social Security Limit 2024 Withholding Rate. The social security wage cap is $168,600 in 2024, up from $160,200 in 2023. The federal government sets a limit on how much of your income is subject to the social security tax.
The federal government sets a limit on how much of your income is subject to the social security tax. The wage base or earnings limit for the 6.2% social security tax rises every year.