6300 22 Mile Road, Suite 3
Shelby Township, MI 48317
(586) 323-1200
Fica / Medicare Limits
The social security and medicare wage and tax limits are as follows;
2018:
The wage limit for Social Security taxes is $128,700.00. The maximum tax to be withheld from employees is $7,979.40. The rate for employees is 6.2% and 6.2% for employers. The Medicare rate is 1.45% for both employees and employers and the wage limit is unlimited. There is an additional 0.9% Medicare tax for both employees and employers if an employees earnings are $200,000 or more for the year.
2017:
The wage limit for Social Security taxes is $126,000.00. The maximum tax to be withheld from employees is $7,812.00. The rate for employees is 6.2% and 6.2% for employers. The Medicare rate is 1.45% for both employees and employers and the wage limit is unlimited. There is an additional 0.9% Medicare tax for both employees and employers if an employees earnings are $200,000 or more for the year.
2016:
The wage limit for Social Security taxes is $118,500.00. The maximum tax to be withheld from employees is $7,347.00. The rate for employees is 6.2% and 6.2% for employers. The Medicare rate is 1.45% for both employees and employers and the wage limit is unlimited. There is an additional 0.9% Medicare tax for both employees and employers if an employees earnings are $200,000 or more for the year.