Oasdi Max 2024. Higher wage base means more cash stashed for. So, you’re looking at a potential $7,500 increase in the taxable wage base from this year to next.
With last year’s inflation, the number jumped quite a bit. The maximum amount of social security tax an employee will have withheld from.
Higher Wage Base Means More Cash Stashed For.
The social security administration (ssa) announced that the maximum earnings subject to social security (oasdi) tax will increase from $160,200 to $168,600.
So, You’re Looking At A Potential $7,500 Increase In The Taxable Wage Base From This Year To Next.
Workers will continue to be taxed at the 6.2% oasdi tax rate on wages up to this base amount.
This Provision Applies The Oasdi Payroll Tax Rate To Covered Earnings Above $400,000 In 2024 And Later.
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The Oasdi Limit In 2024 Is $168,600, Up $8,400 From 2023.
The social security administration (ssa) announced that the maximum earnings subject to social security (oasdi) tax will increase from $160,200 to $168,600.
It Then Decreases To 17.75.
For 2024, the social security tax limit is $168,600 (up from $160,200 in 2023).
Thus, An Individual With Wages Equal To Or Larger Than $168,600.
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