Joby Rosana

Social Security Limit 2024 Withholding Limit. Up to 85% of your social security benefits are taxable if: The social security tax limit is set each year.

The tax rate for social security is 6.2% (amount withheld) each for the employer and employee (12.4% total). We’re talking about a 6.2% tax rate that bosses need to withhold from employee wages until you hit the social security wage.