How does one determine the amount of social security and medicare taxes to be withheld from an employee, employer?
The current tax rate for social security are - 6.2% for the employer , same portion in case of employee also on Medicare taxes the rate is 1.45% each for both employer and employee in addition to the abiab the additional withholding rate are in following cases it's applies to a individual who's medicMed wages exceeds threshold limit based on his or her tax filing status in this case employer are responsible for withholding additional rate i.e 0.9% this is in addition to normal rate of 1.45% . - Hope this is helpful
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