6300  22 Mile Rd., Suite 3

Shelby Twp., MI  48317

(586) 323-1200

Fica / Medicare Limits

The social security and medicare wage and tax limits are as follows;

 

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.