Social Security Wage Limit 2024 Explained. The wage base or earnings limit for the 6.2% social security tax rises every year. There is a special rule that applies to earnings for 1 year, usually the first year of retirement.

The maximum amount of earnings subject to the social security tax (taxable maximum) will increase to. For 2024, the social security tax limit is $168,600 (up from $160,200 in 2023).