Social Security Limit 2024 Salary Cap. For 2024, that maximum is set at. The social security cap increase for 2023 was 8.98% and it's 5.24% for 2024, but this won't be enough to keep social security from running out of funds by 2035.
The limit on annual earnings subject to social security taxes is referred to as the taxable maximum or the social security tax cap. People under full retirement age can earn up to $21,240 in 2023 while on social security without penalty.
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