Maximum Social Security Tax 2024 Withholding Amount. For 2024, the fica tax rate for employers will be 7.65% — 6.2% for social security and 1.45% for medicare (the same as in 2023). Listed below are the maximum taxable earnings for social security by year from 1937 to the present.


Maximum Social Security Tax 2024 Withholding Amount

The oasdi tax rate for wages paid in 2024 is set by statute at 6.2 percent for employees and employers, each. Thus, an individual with wages equal to or larger than $168,600.

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