Annual Social Security Tax Cap 2024. Someone who earns $200,000 per year pays that same. The 2024 limit is $168,600, up from $160,200 in 2023.
For 2024, the social security wage cap will be $168,600, and social security and supplemental security income (ssi) benefits will increase by 3.2 percent. 11 rows if you are working, there is a limit on the amount of your earnings that is taxed by social security.