Social Security Limit 2024 Earnings Limit. This amount is known as the “maximum taxable earnings” and changes each. The wage base or earnings limit for the 6.2% social security tax rises every year.

People under full retirement age can earn up to $21,240 in 2023 while on social security without penalty. For 2024, the fra year earnings limit is $59,520 and the reduction for excess earnings is $1 for every $3 over the limit.