2024 Max Social Security Tax By Year History. In 2024, the social security tax limit rises to $168,600. For 2024, the fica tax rate for employers will be 7.65% — 6.2% for social security and 1.45% for medicare (the same as in 2023).

It’s $4,873 per month if retiring at 70 and $2,710 for retirement at 62. The oasdi tax rate for wages paid in 2024 is set by statute at 6.2 percent for employees and.