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.
Social Security taxes are one of only two itemized tax items that come out of Americans' paychecks, along with taxes for Medicare, and these are assessed differently than federal and state income taxes. Here's how much you'll pay in Social Security taxes in 2017, and how this may change in the coming years.