. Together, the employee and employer contributions equal 12.4% of the worker’s pay.Self-employed workerspay the fully combined 12.4% Social Security OASDI payroll tax themselves [7] . In 2024 the first $168,600 of ear...
. Together, the employee and employer contributions equal 12.4% of the worker’s pay.Self-employed workerspay the fully combined 12.4% Social Security OASDI payroll tax themselves [7] . In 2024 the first $168,600 of earnings is subject to Social Security tax. In 2025, this will rise to $...
In 2025, this will rise to $176,100. That means no one pays the OASDI payroll tax on any money earned over that amount regardless of their total annual earnings. The Social Security Administration uses these taxes and other funds to p...