Oasdi Salary Cap 2024. So, you’re looking at a potential $7,500 increase in the taxable wage base from this year to next. Social security is financed by a 12.4 percent payroll tax on wages up to the taxable earnings cap, with half (6.2 percent) paid by workers and the other half paid by.

This is also called the taxable maximum, meaning that any income above this limit is not subject to oasdi taxes. The maximum amount of social security tax an employee will have withheld from.