The
total Medicare Tax rate is 2.9%. The employee pays
1.45%
and the employer also pay 1.45%.
There is no wage base
(income) limit for Medicare taxes.
Self Employed:
If you are self
employed you are required to pay both the employee and
employer Medicare taxes. Your effective rate
is 2.9%.
Additional Medicare Tax: 0.9%
on wages & Self-employed income over:
- Married Filing Jointly:
$250,000 - Single or Head of Household or
Qualifying Widdow(er): $200,000 -
Married Filing Separately: $125,000
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