Medicare Tax

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August 31, 2024 3 min read Definitions

Additional Medicare Tax: A Surcharge for High Earners

Taxes Government Regulations Medicare Tax High Earners Payroll Tax Taxation IRS

An overview of the Additional Medicare Tax, a 0.9% tax on high earners' wages above specific thresholds designed to support Medicare funding.

August 25, 2024 3 min read Definitions

Medicare Tax: Hospital Insurance Portion of Tax Under FICA

Finance Taxes Medicare Tax FICA Taxation Federal Insurance Contributions Act Payroll Taxes

An in-depth overview of Medicare Tax, its calculations, applicability, and obligations for both employees and self-employed individuals under the Federal Insurance Contributions Act.