Effective January 1, 2024, the U.S. Social Security Administration will increase the maximum earnings subject to the Social Security payroll tax by $8,400 (from $160,200 in 2023 to $168,600 in 2024).
Source: U.S. Social Security Administration
Social Security Fact Sheet
The Internal Revenue Service has announced 2024 retirement plan contribution limits, as well. Learn more about them by looking at our post highlighting the major changes.
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