Social Security Tax Limits On Income 2024. In other words, if your income exceeds the cap on yearly earnings — which in 2024 is $22,320 for people who claim benefits before full retirement age — social. This amount is known as the “maximum taxable earnings” and changes.

People under full retirement age can earn up to $21,240 in 2023 while on social security without penalty. The maximum amount of income that’s subject to the social security tax is $168,600 in 2024.