Social Security Tax Limits On Income 2024. The oasdi tax rate for wages paid in 2024 is set by statute at 6.2 percent for employees and employers, each. The wage base or earnings limit for the 6.2% social security tax rises every year.

Single filers will owe taxes on their social security if their combined income is $25,000 or more. 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.