Social Security Tax Limit In 2024 . — the current tax rate for social security is 6.2% for the employer and 6.2% for the employee, or 12.4% total. — the federal government can tax up to 85% of your social security benefits, so it's good to know how those taxes are calculated.
The maximum social security employer contribution will increase by $520.80 in 2024. However, if you’ll be reaching full retirement age by the end of the year and aren’t there yet, that limit is $59,520.
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