What would you like to do?

What is the limit on earnings subject to a medicare tax deduction?

already exists.

Would you like to merge this question into it?

already exists as an alternate of this question.

Would you like to make it the primary and merge this question into it?

exists and is an alternate of .

What is the limit on earnings subject to a medicare tax deduction?
I suspect you mean wages subject to the FICA contribution/payment. (The payment is generally NOT deductible in determining taxable income). 2007 The maximum amount of wages subject to the social security tax for 2007 is $97,500. There is no limit on the amount of wages subject to the Medicare tax. 2008 The maximum amount of wages subject to the social security tax for 2008 is $102,000. There is no limit on the amount of wages subject to the Medicare tax. 2009 The maximum amount is $106,800, no limit to the medicare tax. Remember. the wage to be taxed is determined using different definitions of income than in other things (like income subject to income tax).
Thanks for the feedback!
Follow

You joined the "Criminal Minds" cast in 2005. Has the on-set dynamic changed from 2005 to now?

View Full Interview

What are after tax deductions?

Those are amounts taken out of your paycheck that do not reduce the amount of tax you have to pay on your salary.
Are medicare part b premiums tax deductible?

Are medicare part b premiums tax deductible?

Yes is the short answer but there are some guide lines to be followed.   How Much of the Expenses Can You Deduct?   You can deduct on Schedule A (Form 1040) only the

What is a tax deduction?

It is a term for an amount, whether it be determined by its cost, like a medical expense, or some other method (like a child or dependent person being considered as a specific

Taxes deducted from an employee's earnings to finance social security and medicare benefits are called FICA taxes?

YES that is correct. FICA stands for "Federal Insurance Contributions Act." It's the tax withheld from your salary or self-employment income that funds the Social Security and