Social Security Max 2024 Deduction

Social Security Max 2024 Deduction. This explainer was updated in july 2024. The 2024 limit is $168,600, up from $160,200 in 2023.


Social Security Max 2024 Deduction

The wage base or earnings limit for the 6.2% social security tax rises every year. In 2024, retirees receiving social security benefits will be able to earn $59,520 in the year they reach full retirement age before their benefits are reduced by $1 for every $3 in.

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