2024 Fica Max

2024 Fica Max. Where to find march’s flipbook issue. The social security wage base has increased from $160,200 to $168,600 for 2024, which increases.


2024 Fica Max

We call this annual limit the contribution and benefit base. The journal of accountancy is now completely digital.

So, If You Earned More Than $160,200 This Last Year, You Won't.

For 2024, the fica tax rate for employers will be 7.65% — 6.2% for social security and 1.45% for medicare (the same as in 2023).

The Federal Government Sets A Limit On How Much Of Your Income Is Subject To The Social Security Tax.

Attention to detail is important when discussing fica rates and limits, as they may change each calendar year.

So, You’re Looking At A Potential $7,500 Increase In The Taxable Wage Base From This Year To Next.

Images References :

For 2023, The Wage Base Was $160,200.

The federal insurance contributions act (fica) tax is a u.s.

For 2024, An Employer Must Withhold:

All about the fica tax.

Where To Find March’s Flipbook Issue.