Social Security Tax Limit 2024 Withholding 2024. For this calculation we have used the maximum tax rate. The current tax rate for social security is 6.2% for the employer and 6.2% for the employee, or 12.4% total.

The social security tax limit is set each year. If your combined income is under $25,000 (single) or $32,000 (joint filing), there is no tax on your social security benefits.