Social Security Benefits Tax Limit 2024. With tens of millions of baby boomers retiring and starting to draw benefits, and fewer people in the workforce paying taxes for each retiree, social security is expected to run. Like monthly benefits, the wage base limit is adjusted for inflation.
With tens of millions of baby boomers retiring and starting to draw benefits, and fewer people in the workforce paying taxes for each retiree, social security is expected to run. This amount is known as the maximum taxable earnings and changes each year.