What Is The 2024 Fica Limit. For 2024, the fica tax rate for both employers and employees is 7.65% (6.2% for oasdi and 1.45% for medicare). How to calculate fica tax.
That’s what you will pay if you earn $168,600 or. That’s up from the current number of $160,200.
What Are The Fica Taxes?
*employers are required to withhold an additional 0.9% from employee wages in excess of $200,000, but there is not.
The Social Security Limit Is $168,600 For 2024, Meaning Any Income You Make Over $168,600 Will Not Be Subject To Social Security Tax.
The fica limit 2024 has jumped up to $168,600!
The Most You Will Have To Pay In Social Security Taxes For 2024 Will Be $10,453.
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So, If You Earned More Than $160,200 This Last Year, You Won't.
If an employee’s income exceeds this.
Any Income Earned Above This Threshold Is Not Subject To Social Security Tax.