Archive for December, 2010

Social security and Medicare tax for 2011.

Icon Written by Administrator on December 24, 2010 – 10:43 am

For 2011 the employee tax rate for social security is 4.2% (down from 6.2% for 2010). The employer tax rate for social security remains unchanged at 6.2%. The 2011 social security wage base
limit is $106,800. In 2011, the Medicare tax rate is 1.45% each for employers and employees, unchanged from 2010. There is no wage base limit for Medicare tax.