Social Security Limit 2024 Salary Scale. The special rule lets us pay a full social security check for any whole month we consider you retired, regardless of your yearly earnings. If you are working, there is a limit on the amount of your earnings that is taxed by social security.
The maximum benefit depends on the age you retire. However, if you retire at age 62 in 2024, your maximum benefit would be $2,710.
See The Table Of Bend Points For The Bend Points Applicable In Past Years.
This amount is also commonly referred to as the taxable maximum.
50% Of Anything You Earn Over The Cap.
If you retire at age 70 in 2024, your maximum benefit would be $4,873.
Social Security Limit 2024 Salary Scale Images References :
We Call This Annual Limit The Contribution And Benefit Base.
There is no maximum earnings amount for medicare tax.
This Amount Is Known As The “Maximum Taxable Earnings” And Changes Each Year.
The maximum amount of social security tax an employee will have withheld from their paycheck in 2024 is $10,453.20 ($168,600 x 6.2%).