Medicare Tax
In one sentence: A 1.45% payroll tax on all wages, with no wage cap.
What it means
Self-employed pay 2.9%. An additional 0.9% applies above $200,000 single / $250,000 MFJ — a tax on the worker only, not matched by the employer.
In one sentence: A 1.45% payroll tax on all wages, with no wage cap.
Self-employed pay 2.9%. An additional 0.9% applies above $200,000 single / $250,000 MFJ — a tax on the worker only, not matched by the employer.