News & Blog

Date 10.21.2011

2012 Social Security Wage Base

The social security wage base will increase from $106,800 in 2011 to $110,100 in 2012. There is no limit to the wages subject to the Medicare tax, so all wages are subject to the 1.45% tax. The FICA tax rate, which is the combined social security tax rate of 6.2% and the Medicare tax rate of 1.45%, is normally 7.65%, while the self-employment tax rate is normally 15.3%.

Tags: FICA, Medicare, Social Security

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