Maximum Social Security Withholding 2024 Calculator. Fica taxes are a combination of social security and medicare taxes that equal 15.3% of your earnings. The highest social security retirement benefit for an individual starting benefits in 2024 is $4,873 per month, according to the social security administration.
How to calculate social security and medicare taxes. That means that the maximum amount of social security tax an employee will pay (through withholding from their.