Social Security Limit 2024 Withholding. Over the past five years or so, the social security tax limit has increased by an average of about $3,960 a year. Suppose you turn 62 in 2024 and claim social security.

For 2024, the social security tax limit is $168,600 (up from $160,200 in 2023). This totals 6.2% social security tax and 1.45% medicare tax for most wage earners.