There is a cap on annual earnings for which you pay Social Security tax. The maximum earnings subject to the tax is $160,000 in 2023 and $168,600 in 2024. Income above those amounts is not subject to further OASDI tax.13 OASDI Program Criteria ...
If you have multiple jobs in a year and the combined income is more than the taxable maximum, you might pay too much in OASDI tax. You can get a refund for your overpayment when you file your federal income taxes. You can estimate your refund with our free tax calculator. » Learn ...
In 2024, that number is $168,600. That means no one pays the OASDI payroll tax on any money earned over that amount regardless of their total annual earnings. 🤓Nerdy Tip If you have multiple jobs in a year where you’ll earn more than the taxable maximum, y...