Max Social Security Tax 2024 Dollar Amount Limit. So, if you earned more than $160,200 this last year, you didn't have to pay the social security. The wage base or earnings limit for the 6.2% social security tax rises every year.

The highest social security retirement benefit for an individual starting benefits in 2024 is $4,873 per month, according to the social security administration. The maximum benefit depends on the age you retire.