Social Security Wage Limit 2024 Percentage. 6.2% social security tax on the first $168,600 of wages (6.2% x $168,600 makes the maximum tax $10,453.20), plus. The current tax rate for social security is 6.2% for the employer and 6.2% for the employee, or 12.4% total.

But that limit is rising in 2024, which means seniors who are working and collecting social. The maximum social security employer contribution will increase by $520.80 in 2024.