Social Security Tax Rate 2024 Calculator. The 2023 and 2024 limit for joint filers is $32,000. Social security payments are subject to federal income tax in 2024, but only if combined income exceeds certain limits.

Here are the rules used to calculate how much you might owe on your benefits. The current tax rate for social security is 6.2% for the employer and 6.2% for the employee, or 12.4% total.