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.
FICA payroll taxes cover your contribution to the Social Security and Medicare systems. As with other types of taxes, they're listed in the Deductions section of your pay stub and the details of how they were calculated are printed below in the FICA Taxes section.