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What is the FICA withholding income limit for 2009?
In 2009, the IRS set annual Social Security wage base limit at $106,800 at 6.2%. That would make the maximum FICA withholdings $6,621.60.
When do you stop paying FICA for the year?
The maximum amount of wages subject to the FICA-Social Security tax for 2009 is $106,800. There is no limit on the amount of wages subject to the FICA-Medicare tax.
is their an age limit on who pays fica taxes?
is there an age limit on who pays fica taxes
What is the FICA withholding income limit for 2010?
That won't be known until the last quarter of 2009.
What is the FICA limit for 2013?
$110,000
What is the FICA withholding limit for 2011?
4.2
What is the FICA withholding limit for 2013?
$110,000
What is social security max 2009?
The Social SecurityAdminstration issued the inflation adjusted FICA base for 2009; it will be $106,800. That means an employee's 6.2% FICA tax for 2009 will top out at $6,621.60. The 1.45% Medicare component has no wage limit. Employers pay a matching tax. Self-employed taxpayers pay both sides of the FICA tax through their self-empoyment tax.
What is the FICA max for 2009?
106800
How much pay is deducted for FICA in 2009?
In 2009, the FICA tax rate for Social Security was 6.2% on earnings up to $106,800, while the Medicare tax rate was 1.45% with no income limit. Therefore, the total FICA tax rate for most employees was 7.65% on their gross wages. Self-employed individuals paid a combined rate of 15.3%, which included both the employee and employer portions.
At what income do you stop paying fica in 2010?
For 2010, the earnings maximum will remain at $106,800. The same as it was for 2009 FICA.
What is al fica tax?
al fica tax????? US FICA tax is OASDI (FICA) (social security and Medicare taxes) all mean the same tax. For the year 2009 and 2010 the maximum social security contribution limit is 6621 at 6.2% up to the gross wages earned income limited amount of 106800. No limit on the amount of gross earned income that is subject to the Medicare tax rate of 1.45% of gross income. If you are a self employed taxpayer then you are responsible for all of your own FICA self employment taxes of 15.3% plus any income taxes on your net profit from your business operation at your marginal tax rate. For those with well above average income, the Federal income tax withholding may be far more than FICA; FICA is capped, but income tax and the medicare tax is not.
