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What is the 2009 Medicare withholding rate?
1.45%
If employee is exempt from FICA is employer also exempt from contributing to FICA for that employee?
Yes.
Does medicare withholding go in general fund?
Yes. >:-(
Is US withholding a Tax-Exempt Income?
It is neither, tax exempt OR income. Qualifies as a foolish question
Can there be allowable variances in a FICA Withholding?
No. FICA is a straight percentage of salary or wages. The employee Social Security portion (6.2%) stops after the employye reaches the maximum salary ($102,000 in 2008). The employee Medicare portion (1.45%) does not have a miximum.
What would be my social security withholding if my income was 21899.77?
An employee with a employer would have 7.65% withheld from from gross earnings. 21899.77 X .0765 = 1675.33 social security and medicare taxes.
Why is your part time employer withholding medicare ins pay?
Medicare is withheld from virtually all earnings.
Do you pay Medicare withholding on pension income?
They will take the money for the medicare payment out of your Socialized Security check.
Who completes a W-4?
An employee completes a Form W4, Employee's Withholding Allowance Certificate, when the employee is first hired, or whenever they want to change their income tax withholding.
Who is exempt from backup withholding?
Anyone who properly reports their name and Social Security number while using the Form W-9, whose information matches IRS records, and those who have not been noticed by the IRS that they are exempt from backup withholding are exempt from backup withholding.
Is general professional partnership subject to withholding tax?
the GPP itself are exempt for withholding tax but if the income payment are payable direct to the members of the GPP then it is subject to withholdinbg tax.. The GPP is not a taxable entity because its member are taxable individually, so the gpp are exempt from withholding..
Is S-Corp Exempt from backup withholdling On W9 form?
An S-Corp is exempt from backup withholding on a W9 form. The backup withholding box on the W9 form is required for individual taxpayers and not businesses or corporations.
