The social security administration (ssa) announced that the maximum earnings subject to social security (oasdi) tax will increase from $160,200 to $168,600. Understanding the oasdi limit in 2024.
With last year’s inflation, the number jumped quite a bit. The maximum amount of social security tax an employee will have withheld from.
This Amount Changes Each Year — The Annual Oasdi Limit For 2024 Is $168,600.
For 2024, the social security tax limit is $168,600 (up from $160,200 in 2023).
Sharma Says The Government Can Take A Few Steps To Reduce The Tax Burden.
As mentioned above, there is an oasdi tax limit based on the annual wage index.
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For Earnings In 2024, This Base.
Workers earning at least $160,200 during.
Last Year, The Maximum Taxable Earnings For The Oasdi Tax Was $160,200.