Social Security Taxable Wage Base 2025. 2025 social security wage limit. The formula for determining the oasdi contribution and benefit base is set by law.
The 2024 social security wage base is $168,600, up from the 2023 limit of $160,200. Wage indexing depends on the year in which a person is first eligible to receive benefits.
Social Security Taxable Wage Base Increases.
On october 13, 2022, the social security administration (ssa) announced a $13,200 increase in the social security taxable wage base from $147,000 to $160,000.
The Tax Rate For An Employee's Portion Of The Social Security Tax Is 6.2%.
The social security tax rate is 12.4 percent of earnings.
Social Security Taxable Wage Base 2025 Images References :
When You Calculate How Much Of Your Social Security Benefit Is Taxable, Use The $2,000/Month Number And Multiply That By The Number Of Months To Get The Annual.
Your employer also pays 6.2% on any taxable wages.
2025 Social Security Wage Limit.
According to the intermediate projection issued in a may 2024 report, the social security taxable wage next year will be $174,900.