Social Security Max 2024 Withholding Calculator

Social Security Max 2024 Withholding Calculator. If you are working, there is a limit on the amount of your earnings that is taxed by social security. The tool then automatically calculates the taxable portion and incorporates it into an overall estimate of their projected tax liability and withholding for the year.


Social Security Max 2024 Withholding Calculator

The current rate for medicare is 1.45% for the employer and 1.45% for the employee, or 2.9% total. However, the 6.2% that you pay only applies to income up to the social security tax cap, which for 2023 is $160,200 ($168,600 for 2024).

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