Social Security Limit 2024 Withholding Limit. If you will reach fra in 2024, social security withholds $1 in benefits for every $3 in earnings above $59,520 (up from $56,520 in 2023) until the month when you. Current law social security and medicare tax rates.
The maximum earnings subject to the social security payroll tax will increase by nearly 9%, the social security administration announced. (for 2023, the tax limit was $160,200.