Social Security Tax Limit 2024 Ratel. The individual tax brackets for ordinary income have been adjusted by inflation (table 1): Lift the tax cap for people earning $250,000, and add the social security tax to investment and business income, which is currently exempt from the tax.

In 2023, the salary limit subject to social security tax is $160,200. So, if you earned more than $160,200 this last year, you didn’t have to pay the.