consulting and training) under the same contract for the purposes of customizing the. product, or product roll-out and implementation, the agency may be able to purchase. those services up to 20% of the value of the product and first year's maintenance.
The Social Security tax is a flat tax rate of 6.2 percent on your wage income up to $118,500 as of 2017. Any wages you earn over $118,500 aren't subject to the Social Security tax, so the figure shown in Box 4 should be no more than $7,347.00, the $118,500 maximum wage base times 6.2 percent.
The maximum OASDI (Social Security) tax payable by an employee in 2018 would be $7979.40 ($128,700 x 6.2%). There is no maximum Social Security tax payable by an employer. Social Security Tax vs. FICA Tax The term Social Security tax or OASDI is often confused with FICA taxes, which include both Social Security and Medicare taxes.