Social Security Income Tax Limit 2024 Ford. Only the social security tax has a wage base limit. For 2024, the social security administration will deduct $1 from benefits for every $2 you earn above the annual limit of $22,320.
For 2024, the social security tax limit has been set at $168,600, an increase from the $160,200 limit in 2023. Only the social security tax has a wage base limit.