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The floor of the rate used to compute the amount due for the Additional Medicare Tax (introduced in 2013) actually depends on an individual's filing status for the federal income tax, but the same floor (listed below) is used for withholding from all individuals regardless of their filing status.
1 Ιαν 2008 · 2008 Social Security and Medicare Tax Withholding. For 2008, the maximum limit on earnings for withholding in the Old-Age, Survivors, and Disability (OASDI) portion of the Social Security tax increases from $97,500.00 to $102,000.00. This is a $4,500 increase from the 2007 limit.
4 Μαΐ 2009 · Effective in 1994, all earnings are subject to Medicare's Hospital Insurance tax (that is, the maximum taxable base does not apply to Medicare's HI tax). (d) For 1984–1989, credits will be allowed at the following rates of self-employment income: 2.7% in 1984;
NOTE: The 7.65% tax rate is the combined rate for Social Security and Medicare. The Social Security portion (OASDI) is 6.20% on earnings up to the applicable taxable maximum amount (see
Social security and Medicare tax for 2008. Do not with-hold social security tax after an employee reaches $102,000 in social security wages. There is no limit on the amount of wages subject to Medicare tax. Social security and Medicare taxes apply to the wages of household Get forms and other information workers you pay $1,600 or more in cash.
The Part A tax rate is 1.45 percent of earnings, to be paid by each employee and a matching amount by the employer for each employee, and 2.90 percent for self-employed persons. Beginning in 1994, this tax is paid on all covered wages and self-employment income without limit.
Social Security's Old-Age, Survivors, and Disability Insurance (OASDI) program and Medicare's Hospital Insurance (HI) program are financed primarily by employment taxes. Tax rates are set by law (see sections 1401, 3101, and 3111 of the Internal Revenue Code) and apply to earnings up to a maximum amount for OASDI.
