Social Security Max 2024 Wages Meaning. The social security administration recently announced that the wage base for computing social security tax will increase to $168,600 for 2024 (up from $160,200 for 2023). The wage base limit is the maximum wage that's subject to the tax for that year.
People under full retirement age can earn up to $21,240 in 2023 while on social security without penalty. When you have more than one job in a year, each of your employers must withhold social security taxes from your wages.
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