## What is the employee tax rate for Medicare?

1.45%
The current tax rate for social security is 6.2% for the employer and 6.2% for the employee, or 12.4% total. The current rate for Medicare is 1.45% for the employer and 1.45% for the employee, or 2.9% total.

### What was the Medicare tax rate in 2014?

1.45 percent
For 2014, the social security tax rate is 6.2 percent, and the Medicare tax rate is 1.45 percent.

What was the Social Security tax rate in 2013?

6.2 percent
In 2013, with the higher income ceiling and the return to the 6.2 percent withholding rate, the maximum yearly Social Security tax withholding rises from \$4,624.20 (4.2 percent on income up to \$110,100) to \$7,049.40 (6.2 percent on income up to \$113,700).

How is Medicare tax calculated?

For both of them, the current Social Security and Medicare tax rates are 6.2% and 1.45%, respectively. So each party – employee and employer – pays 7.65% of their income, for a total FICA contribution of 15.3%. To calculate your FICA tax burden, you can multiply your gross pay by 7.65%.

## How does the 3.8 Medicare tax work?

The Medicare tax is a 3.8% tax, but it is imposed only on a portion of a taxpayer’s income. The tax is paid on the lesser of (1) the taxpayer’s net investment income, or (2) the amount the taxpayer’s AGI exceeds the applicable AGI threshold (\$200,000 or \$250,000).

### What was Payroll Tax 2014?

The portion of the Social Security FICA tax that employees pay remains unchanged at the 6.2 percent withholding rate. Correspondingly, the portion of the tax that employers cover also remains at 6.2 percent of employee wages. This amounts to a total Social Security FICA tax of 12.4 percent.

What was the earnings limit for Medicare in 2014?

The Social Security Tax Rate remains at 6.2 percent. The resulting maximum Social Security Tax for 2014 is \$7,254.00. There is no limit on the amount of earnings subject to Medicare (Hospital Insurance) Tax….2014 Social Security and Medicare Tax Withholding Rates and Limits.

Tax 2013 Limit 2014 Limit
Medicare Gross No Limit No Limit
Medicare Liability No Limit No Limit

What is the current Medicare rate for employers?

The current rate for Medicare is 1.45% for the employer and 1.45% for the employee, or 2.9% total. Refer to Publication 15, (Circular E), Employer’s Tax Guide for more information; or Publication 51, (Circular A), Agricultural Employer’s Tax Guide for agricultural employers.

## What is the current tax rate for Social Security and Medicare?

Different rates apply for these taxes. Social Security and Medicare Withholding Rates. The current tax rate for social security is 6.2% for the employer and 6.2% for the employee, or 12.4% total. The current rate for Medicare is 1.45% for the employer and 1.45% for the employee, or 2.9% total.

### What is the additional Medicare tax withholding rate?

Additional Medicare Tax Withholding Rate. Employers are responsible for withholding the 0.9% Additional Medicare Tax on an individual’s wages paid in excess of \$200,000 in a calendar year, without regard to filing status. An employer is required to begin withholding Additional Medicare Tax in the pay period in which it pays wages in excess…

What is the wage base limit for Medicare tax?

There’s no wage base limit for Medicare tax. All covered wages are subject to Medicare tax.