Gutter Chaves Josepher Rubin Forman Fleisher P.A..

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Social Security and Medicare Taxes
2010

ANNUAL WAGE AMOUNT	EMPLOYER FICA TAX RATE	EMPLOYEE FICA TAX RATE	SELF-EMPLOYMENT TAX RATE
On first $106,800	7.65% [6.2% OASDI +1.45% HI]	7.65% [6.2% OASDI +1.45% HI	15.3% [12.4% OASDI +2.9% HI
Then on $106,800+	1.45% [HI Only]	1.45% [HI Only]	2.9%

Self-employed persons can claim an income tax deduction for one-half of their self-employment tax.

© 2010 Gutter Chaves et al

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