Social Security Limit 2024 Tax Rate. In 2024, only the first $168,600 of your earnings are subject to the social security tax. The federal government sets a limit on how much of your income is subject to the social security tax.
The current tax rate for social security is 6.2% for the employer and 6.2% for the employee, or 12.4% total. For 2024, the social security tax limit is $168,600.