Social Security Limit 2024 Withholding. In the year you reach full retirement age, we deduct $1 in benefits for every $3 you earn above a different limit,. Five things to know about social security and taxes;

The rate of social security tax on taxable wages is 6.2% each for the employer and employee. 11 rows when you have more than one job in a year, each of your employers must withhold social security taxes from your wages.