2024 Social Security Tax Limit Cap Increase. The maximum amount of earnings subject to social security tax (taxable. 11 rows if you are working, there is a limit on the amount of your earnings that is taxable by social security.

The limit on annual earnings subject to social security taxes is referred to as the taxable maximum or the social security tax cap. That means the maximum social security tax per worker will be rising by $1041.60 to $20,906.40, with $10,453.20 of that taken directly out of an employee’s paycheck, up from.