Social Security Wage Base 2024 Projection Matrix. The 2024 social security wage base is projected to be $167,700. Of course, both employers and employees pay the 6.2% social security tax rate, which means there could be a max payment next year of:
The social security wage base will rise in 2024 to $168,600, a 5.2% increase from its 2023 wage base of $160,200. But it’s still below the 3.2% increase afforded to social security recipients in 2024, and nowhere near the 8.7% and 5.9% increases for 2023 and 2022’s recipients,.
Social Security Wage Base 2024 Increase.
The social security wage base will rise in 2024 to $168,600, a 5.2% increase from its 2023 wage base of $160,200.
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).
Of course, both employers and employees pay the 6.2% social security tax rate, which means there could be a max payment next year of:
Social Security Wage Base 2024 Projection Matrix Images References :
The Social Security Administration Today Issued A News Release Announcing That The Social Security Wage Base Will Rise From $160,200 In 2023 To $168,600 In 2024.
The internal revenue service has announced an increase in the social security wage base.
The Maximum Social Security Employer Contribution Will Increase By $520.80 In 2024.
According to the intermediate projection issued in a may 2024 report, the social security taxable wage next year will be $174,900.