Fica Maximum 2025. According to the intermediate projection issued in a may 2024 report, the social security taxable wage next year will be $174,900. The maximum income amount for social security tax tends to follow inflation up every year.
The board projects that the 2025 tax limit would rise to $174,900. In other words, if you make $168,600, your maximum fica tax will be.
We Call This Annual Limit The Contribution And Benefit Base.
The maximum annual earnings that are subject to social security tax in 2023 is $160,200, for a total tax of $9,932.40.
While It Seems You Pay An Awful Lot, There Is A.
For 2024, the amount is $168,600, for a total tax of $10,453.20.
Since Fica Takes A Big Part Of Those Taxes, You Might Wonder What Itโs Used For And How Much Is Required To Pay.
Images References :
The Taxable Wage Base Estimate Has Been Released, Providing You With Key Numbers.
Fica is a 15.3% payroll tax that funds social security and medicare.
For Earnings In 2024, This Base Is $168,600.
In other words, if you make $168,600, your maximum fica tax will be.
The Maximum Annual Earnings That Are Subject To Social Security Tax In 2023 Is $160,200, For A Total Tax Of $9,932.40.