Social Security Benefits Cap 2024. The 2024 social security cap represents a $8,400 increase over 2023. People whose earnings equaled or exceeded social security’s maximum taxable income — the amount of your earnings on which you pay social security taxes — for at least 35 years of their working lives.
People whose earnings equaled or exceeded social security’s maximum taxable income — the amount of your earnings on which you pay social security taxes — for at least 35 years of their working lives. More than 71 million americans will see a 3.2% increase in their social security benefits and supplemental security income (ssi) payments in 2024.
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