Millionaires Expected to Hit Social Security Payroll Tax Limit Next Year

Saturday, 2 March 2024, 14:30

The article highlights the projection that millionaires will reach the Social Security payroll tax limit by March 2024 as earnings up to $168,600 will be subject to taxes. This indicates a potential impact on high earners and emphasizes the significance of this financial threshold. It raises important considerations for individuals reaching this limit and the implications for their Social Security contributions.

https://store.livarava.com/86f732a6-d8a3-11ee-b8b8-5254a2021b2b.jpe — Millionaires Expected to Hit Social Security Payroll Tax Limit Next Year

Why millionaires may have already hit their Social Security payroll tax limit for 2024

In 2024, up to $168,600 in earnings are subject to Social Security payroll taxes.

Millionaires are set to hit that threshold in March.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

Why millionaires may have already hit their Social Security payroll tax limit for 2024

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