Topic no 751, Social Security and Medicare withholding rates Internal Revenue Service
Medicare taxes, on the other hand, don’t have a wage limit. But there’s an Additional Medicare Tax that high-income individuals must pay. Fortunately, if you’re self-employed, you’ll get to deduct half of the tax (7.65%) when you file your tax return. The self-employment tax deduction is an above-the-line deduction that you can use to lower […]
Topic no 751, Social Security and Medicare withholding rates Internal Revenue Service Read More »