(More on that below.) The Medicare tax rate is another thing you need to know. It’s 2.9% of earned income and wages. As a W-2 employee, you pay half of that tax (1.45%), and your employer pays ...

You must withhold Social Security and Medicare taxes--these are known as FICA (Federal Insurance Contributions Act) taxes. The FICA tax actually consists of two taxes: a 6.2 percent Social ...

Sen. Bernie Sanders (I-Vt.), who supports expanding Social Security and Medicare and raising taxes on the wealthy, will get a ...

Medicare tax: Another 1.45 percent is deducted from both your paycheck and your employer’s contribution. This tax goes towards funding Medicare. If you are self-employed, you’re responsible ...

(Getty Images) Medicare Advantage – the commercial alternative to traditional Medicare – is drawing down federal health care funds, costing taxpayers an extra 22 percent per enrollee to the tune of ...

See how we rate tax products to write unbiased product ... Employers match those amounts, for a total of 15.3% of pay. The Additional Medicare tax is levied on those with income of $200,000 ...

Together, these make up a tax rate of 7.65% for FICA taxes ... and financial advisor at Mintco Financial in Tampa, Florida. Medicare tax does not have an earnings limit, so you'll be expected ...

Discover effective strategies for year-end tax planning and Medicare changes that can help seniors save money and secure necessary health care coverage. The first key adjustment opportunity and ...