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The amount that will be withheld from the employee gross pay by your employer would still be 7.65% the same amount as it was for the tax year 2010.

You should get this information from your employer's payroll department as they will be the one that would know how much FICA, federal income tax, state income, local taxes, etc they will have to withhold from your gross bonuses before they print your check for your net take home pay.

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13y ago
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14y ago

Same as it's been since 1990 - 6.2% for Social Security and 1.45% for Medicare.

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13y ago

For most individuals, $110.50/month, same as 2010.

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13y ago

2011 - 4.20% 2010 - 6.20%

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Q: What is the 2011 social security and medicare deduction?
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What is deducted from a workers pay check to fund social security and medicare?

In most years, your employer will deduct the following from your paycheck: Social Security: 6.2% of your gross pay Medicare: 1.45% of your gross pay However, in 2011 Obama signed into a law a "payroll tax holiday" as part of the continued effort to stimulate the economy. For 2011 only, the social security tax coming out of your paycheck is 4.2% instead of 6.2%, meaning that this year you will take home more money than you would in a "normal" year. Your employer matches these amounts too -- they pay another 6.2% for social security, and another 1.45% for Medicare. Under the payroll tax holiday, only your portion of social security is reduced to 4.2% -- your employer is still paying 6.2% of your pay into social security for you.


Where can you find out how much you were paid in social security in 2011?

At the end of the year you will get a statement from Social Security. It will have the amount of money you received, for the year, from Medicare.


Is medicare part b deduction rising to 285.60 in 2011?

the deductible is 162.00 in 2011


What is deducted from a workers paycheck to fund social security and medicare?

Social Security is funded by FICA; Medicare is funded by Medicare tax.


Is the payroll tax cut applied to both employer and employee?

yes ABSOLUTELY NOT!! (Not sure who wrote 'yes.) The IRS regulations state that the employee tax rate for social security tax in 2011 is 4.2%. The employer tax rate for social security remains unchanged at 6.2%. The 2011 social security wage base limit is $106,800. In 2011, the Medicare tax rate is 1.45% each for employers and employees, unchanged from 2010. There is no wage base limit for Medicare tax. Employers should implement the 4.2% employee social security tax rate as soon as possible, but not later than January 31, 2011.


How much money do you have to earn to stop paying social security taxes in the year 2011?

106,800. That amount went up in 2012 to 110,000. According to the Offical Social Security Website.


What payroll taxes must an employer withhold for an employee?

In most years, your employer will deduct the following from your paycheck: Social Security: 6.2% of your gross pay Medicare: 1.45% of your gross pay However, in 2011 Obama signed into a law a "payroll tax holiday" as part of the continued effort to stimulate the economy. For 2011 only, the social security tax coming out of your paycheck is 4.2% instead of 6.2%, meaning that this year you will take home more money than you would in a "normal" year. Your employer matches these amounts too -- they pay another 6.2% for social security, and another 1.45% for Medicare. Under the payroll tax holiday, only your portion of social security is reduced to 4.2% -- your employer is still paying 6.2% of your pay into social security for you.


What is the 2011 social security cap?

106,800


What programs receive the largest portion of the federal budget?

In 2009, more money (23%) was spent on defense than any other outlay. However, outlays for social security and for Medicare/Medicaid were close behind. In all likelihood, the trend will reverse in 2011 with social security being the largest outlay.


What is the 2011 maximum social security withholding amount?

For 2009, the Social Security Withholding tax (OASDI) is 6.20% on wages up to $106,800. Doing the math the maximum social security withholding is $6,621.60. If you have more than one employer in 2009 and your combined earnings exceed $106,800 the combined withholding can exceed $6,621.60 as EACH employer is required to deduct 6.20% of earnings up to $106,800. You will get back any amount over $6,621.60 when you file your taxes as excess social security taxes, or your employer will stop withholding any amounts above $6,621.60 from your paycheck. There is an additional 1.45% for Medicare which has no cap on the amount of withholding. The combined OASDI and Medicare tax of 7.65% is commonly referred to as the Social Security Withholding tax.


How many Americans are on welfare?

Welfare is a broad term that can refer to food stamps, TANF (temporary assistance for needy families) checks, Social Security benefits and even Medicaid/Medicare. According to the US Census Bureau, about 49% of Americans receive some type of financial support from the government as of 2011. But this includes Social Security and Medicare, which is supported by payroll taxes. As of 2011, more than 44.7 million Americans received food stamps. Roughly 4 million Americans receive TANF-funded assistance.


What is the 2010 Social Security tax cap?

The 2010 cap is the same as in 2009, $106,800.00, at which point the Social Security amount withheld would be $6,621.60 (6.2%). There is no cap on the Medicare insurance contribution, so the 1.45% amount will continue to be withheld on all earnings, and will be matched by your employer at the 1.45% rate for a total 3.90% for the year. For more information, click on the Related Link, below.