Social Security Tax Maximum 2024. The social security administration (ssa) announced that the maximum earnings subject to social security (oasdi) tax will increase from $160,200 to $168,600 in 2024 (an increase of $8,400). It’s $4,873 per month if retiring at 70 and $2,710 for retirement at 62.

The social security tax limit refers to the maximum amount of earnings that are subject to social security tax. This amount is known as the “maximum taxable earnings” and changes each.