2019/2018 Federal Social Security and Medicare Tables
2019
PAYROLL TAXES
Social Security
Medicare
Employee
6.2% of first $132,900 of income
1.45%
Self-Employed
12.4% of first $132,900 of income
2.90%
Individuals with earned income of more than $200,000 ($250,000 for married couples filing jointly) pay an additional 0.9% in Medicare taxes. The tax rates shown above do not include the 0.9%.
2018
PAYROLL TAXES
Social Security
Medicare
Employee
6.2% of first $128,400 of income
1.45%
Self-Employed
12.4% of first $128,400 of income
2.90%
Individuals with earned income of more than $200,000 ($250,000 for married couples filing jointly) pay an additional 0.9% in Medicare taxes. The tax rates shown above do not include the 0.9%.
The information presented here is not intended to be a comprehensive analysis. Chernoff Diamond is a benefits advisory firm and does not provide tax or legal advice. Individuals or Employers should consult with qualified legal and/or tax counsel for guidance in respect of matters of law, tax and related regulation.
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