Social Security Tax Limit 2024 Increase 2024. The federal government sets a limit on how much of your income is subject to the social security tax. But beyond that point, you'll have $1 in benefits withheld per $2 of earnings.

You file a federal tax return as an individual and your combined income is between $25,000 and $34,000. The 2024 social security tax limit has increased to $168,600, offering potential tax savings for higher earners by excluding income above this threshold from.