2024 Fica Limit. March 20, 2024, 3:43 pm pdt. How to calculate fica tax.
For 2024, the maximum income subject to the social security portion of the fica tax is $147,000. How much could you owe in social security tax?
For 2024, The Fica Tax Rate For Both Employers And Employees Is 7.65% (6.2% For Oasdi And 1.45% For Medicare).
March 20, 2024, 3:43 pm pdt.
As A Result, In 2024 You’ll Pay No More Than $10,453 ($168,600 X 6.2%) In Social Security Taxes.
2024 taxable wage base projection:
The Social Security Wage Base Limit Is $168,600.The Medicare Tax Rate Is 1.45% Each For The Employee And Employer, Unchanged From 2023.
Images References :
In 2024, The Social Security Wage Base Limit Rises To $168,600.
For 2023, the wage base was $160,200.
As A Result, In 2024 You’ll Pay No More Than $10,453 ($168,600 X 6.2%) In Social Security Taxes.
The medicare tax rate is 1.45% each for the employee and employer, unchanged from 2023.
All About The Fica Tax.