The Christmas Cove Dyke of coastal Maine, USA, and regional sources ... by McHone, J. Gregory; Hussey, Arthur M., II; West, David P., Jr.; Bailey, David G. / Atlantic Geology.
Social security and Medicare taxes have different rates and only the social security tax has a wage base limit. The wage base limit is the maximum wage subject to the tax for the year. Determine the amount of withholding for social security and Medicare taxes by multiplying each payment by the employee tax rate. There are no withholding allowances for social security and Medicare taxes.
Here is the breakdown of what where your payroll tax deductions are going. Notes that OASDI (Old Age Survivors and Disability Insurance) is Social Security and HI (Hospital Insurance) covers only for Medicare beneficiariesâ Part A (i.e., hospital) medical costs.