Max Social Security Tax 2024 Withholding Limit. If a taxpayer works more than one job and combined wages exceed $142,800 from multiple employers in 2021, then more than the max social security. The 2024 social security wage base is $168,600, up from the 2023 limit of $160,200.

After an employee earns above the annual wage base, do not withhold. The taxation rules apply to all forms of benefits paid out of social security’s trust funds — retirement benefits, survivor benefits and social security disability.