Fica Medicare Rates 2024

Fica Medicare Rates 2024. The current tax rate for social security is 6.2% for the employer and 6.2% for the employee, or 12.4% total. For 2024, an employer must withhold:

In 2024, the medicare tax rate is 2.9%, with half (1.45%) paid by the employee and the other half (1.45%) paid by the employer. The social security wage cap will be increased from the 2023 limit of $160,200 to the.