Home
Our Firm
Our People
Services
Tips & Reminders
Articles
Contact
Links
Forms
Archive
 

Social Security/Medicare Contribution Limits

 

Employment earnings and net self-employment earnings subject to Social Security taxes:

 

2012

2011

2010

2009

2008

Combined annual earnings ceiling

$110,100

$106,800

$106,800

$102,000

$97,500

Rate (employee)(1)

4.2%*

4.2%

6.2%

6.2%

6.2%

Rate (self-employed)

10.4%*

10.4%

12.4%

12.4%

12.4%


* for the first two months of 2012 a 4.2% tax would continue to apply to workers’ pay and 10.4% OASDI tax for self-employment income (until further notice).


 

2007

2006

2005

2004

Combined annual earnings ceiling

$94,200

$90,000

$87,900

$87,400

Rate (employee)(1)

6.2%

6.2%

6.2%

6.2%

Rate (self-employed)

12.4%

12.4%

12.4%

12.4%

 

Employment earnings and net self-employment earnings subject to Medicare taxes:

 

2012

2011

2010

2009

2008

Combined annual earnings ceiling

unlimited

unlimited

unlimited

unlimited

unlimited

Rate (employee)(1)

1.45%

1.45%

1.45%

1.45%

1.45%

Rate (self-employed)

2.9%

2.9%

2.9%

2.9%

2.9%


 

2007

2006

2005

2004

Combined annual earnings ceiling

unlimited

unlimited

unlimited

unlimited

Rate (employee)(1)

1.45%

1.45%

1.45%

1.45%

Rate (self-employed)

2.9%

2.9%

2.9%

2.9%

(1) Amounts deducted from employee are matched by the employer

FICA (Federal Insurance Contributions Act) is actually made up of two taxes:

  • OASDI (Old Age, Survivors, and Disability Insurance), commonly known as Social Security tax
  • HI (Hospital Insurance), commonly known as Medicare tax