2024 Max Fica Tax Amount. Social security (oasdi) tax max fica wages max tax medicare (hospital insurance) tax max medicare tax; For 2024, the irs has set the fica limit at $160,200.
Fica tax consists of two parts: For 2024, the social security tax limit is $168,600.
Social Security Tax (6.2% Of Wages, Up To A Maximum Taxable Income) And Medicare Tax (1.45% Of Wages, With No Income Limit).
To calculate your fica tax burden,.
The Maximum Income Amount For Social Security Tax Tends To Follow Inflation Up Every Year.
It changes from year to year;
For 2024, The Social Security Tax Limit Is $168,600.
Images References :
In 2023, Only The First $160,200 Of Your Earnings Are Subject To The Social Security Tax.
For earnings in 2024, this base is $168,600.
For 2024, The Amount Is $168,600, For A Total Tax.
In other words, if you make $168,600, your maximum fica tax will be.
As A Result, In 2024 You’ll Pay No More Than $10,453 ($168,600 X 6.2%) In Social Security.