$110,000
4.2
That won't be known until the last quarter of 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.
what is the FICA rate for 2011
is there an age limit on who pays fica taxes
4.2
$110,000
That won't be known until the last quarter of 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.
what is the FICA rate for 2011
are employees that are currently receiving social security and medicare benefits subject to fica withholding
Yes and no. Federal Withholding is usually Federal income tax. FICA is Social Security. Different percentage, goes to a different place.
is there an age limit on who pays fica taxes
Federal and state income taxes, and FICA
It would seem logical that a negotiator who is a full time employee of, for example, the Teamsters Union, would be subject to FICA withholding taxes.
It should be listed as FICA. Listed next to Federal and State withholding, you'll also see FICA - that is your contribution to Social Security.
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.