What Is Payroll Tax? A Breakdown for Business Owners
inDinero Tax Tips
MAY 13, 2024
The 2023 maximum was $160,200 The 2024 maximum is $168,600 Medicare Tax The Medicare tax rate is a flat 1.45% of all wages. Once an individual exceeds a certain income threshold, additional Medicare tax applies. For 2024, withhold an additional 0.9% For 2024, withhold an additional 0.9%
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