Social Security Limit 2024 Withholding Calculator. However, the 6.2% that you pay only applies to income up to the social security tax cap, which for 2023 is $160,200 ($168,600 for 2024). Yes, there is a limit to how much you can receive in social security benefits.

Yes, there is a limit to how much you can receive in social security benefits. So, if you earned more than $160,200 this last year, you didn’t have to pay the social security.