How Is Oasdi Calculated 2024. Social security taxes are based on employee wages. The oasdi taxable wages have a wage limit of $168,600 for the current tax.
This tax supports retirees, their families, and americans who are disabled. Oasdi deductions are calculated at a rate of 6.2% of your wages, up to a certain earnings threshold, which is adjusted.
The 2024 Rate For Employees And Employers Is Set At 6.2%.
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In 2024, The Oasdi Tax Rate Is 6.2% For Employees.
This tax supports retirees, their families, and americans who are disabled.
As Mentioned Above, There Is An Oasdi Tax Limit Based On The Annual Wage Index.
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The Income Rate Excludes Interest Income.
The social security administration (ssa) announced that the maximum earnings subject to social security (oasdi) tax will increase from $160,200 to $168,600.
What Is The Oasdi Limit For 2024?
Income above those amounts is not subject to further oasdi tax.