Social Security Tax Limit 2024 Withholding Tax Rate. Up to 85% of a taxpayer's benefits may be taxable if they are: Those who will reach retirement age during.

For 2024, $1 in benefits will be withheld for every $2 in earnings above $22,320 (increase from $21,240 in 2023). The social security tax limit is the maximum wage due to the social security tax.