Oasdi Max 2024 Wage Base. The 2024 limit is $168,600, up from $160,200 in 2023. At or above the wage base limit, the employee and the employer each will pay $10,453 in tax, an increase of $521 for each party in 2024.
This threshold, referred to as the social security wage base, means that if you earn more than $168,600 in 2024, you won’t pay oasdi tax on the amount above that. The maximum social security employer contribution will increase by $520.80 in 2024.
Get Ready To Contribute 6.2% Of Each Paycheck Towards Social Security Until You Hit That Cap—Then No More Payroll Tax.
The social security administration (ssa) announced that the maximum earnings subject to social security (oasdi) tax will increase from $160,200 to $168,600 in 2024 (an increase of $8,400).
Calculate The Estimated Payroll Taxes Due On Wages For Both Employees And Employers.
Projected social security wage base information as provided by the ssa in may 2024.
Oasdi Max 2024 Wage Base Images References :
Some States Are Conservative In Their Approach To Maintaining Adequate Sui Trust Fund Reserves.
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).
Keep An Eye On The Oasdi Limit—It’s Your Earnings Ceiling For Social Security Taxes.