Is there a limit to FICA tax?
Is there a limit to FICA tax? FICA Tax: Wage Base Limits For 2021, it's $142,800. This income ceiling is also the maximum amount of money that's considered when calculating the size of Social Security benefits. Medicare taxes, on the other hand, don't have a wage limit. But there's an Additional Medicare Tax that high-income individuals must pay. What is the maximum amount of earnings that are subject to Social Security tax in 2014? Maximum Withholding In 2014, with the higher income ceiling, the maximum yearly Social Security tax withholding amount rises to $7,254 (6.2 percent withholding on earnings of...