Max Taxable Social Security Wages 2024 Calendar. Social security is financed by a 12.4 percent payroll tax on wages up to the taxable earnings cap, with half (6.2 percent) paid by workers and the other half paid by. So, for 2024 employers must withhold the following amounts:
This amount is known as the “maximum taxable earnings” and changes. 6.2% social security tax on the first $168,600 of wages (6.2% x $168,600 makes the maximum tax $10,453.20), plus.