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 and Medicare Contributions. The FICA (for Federal Insurance Contributions Act) tax (also known as Payroll Tax or Self-Employment Tax, depending on your employment status) is your contribution to Social Security and Medicare as a percentage of your salary: source: Social Security Administration.