Social Security Tax Maximum Income 2024. The wage base limit is the maximum wage that's subject to the tax for that year. If this is the year you hit full retirement age, however, the rules are a little different.
The maximum social security benefit for 2024 is expected to be $3,822 per month at full retirement. This amount is known as the “maximum taxable earnings” and changes each year.
The Social Security Taxable Maximum Is Adjusted Each Year To Keep Up With Changes In Average Wages.
Up to 50% of your social security benefits are taxable if:
The Limit For 2023 And 2024 Is $25,000 If You Are A Single Filer, Head Of Household Or Qualifying Widow Or Widower With A Dependent.
The maximum social security benefit in 2024 is $3,822 per month at full retirement age.
If This Is The Year You Hit Full Retirement Age, However, The Rules Are A Little Different.
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This Amount Is Known As The “Maximum Taxable Earnings” And Changes Each Year.
In 2024, for example, the limit is $168,600.
The Average Person Received Just $20,469 Per Year In 2023.
That threshold dictates how much income you can earn before you risk having some of your social security benefits withheld.
