What is the Additional Medicare Tax for high earners?

However, the Affordable Care Act (ACA) added an extra Medicare tax on high earners. This tax is known as the Additional Medicare Tax. Since January 2013 ...

Find Out if Additional Medicare Tax Applies To You

Your employer has a responsibility to withhold Additional Medicare Tax on wages it pays to you in excess of $200,000 in a calendar year, without regard to your ...

What Is the Form 8959 Additional Medicare Tax for High-Income ...

Medicare beneficiaries earning a high income can download Form 8959 to file and pay the additional 0.9% tax. Learn whether you fall into ...

3.8% Medicare Tax on Net Investment Income and .9% Additional ...

3.8% Medicare Tax on Net Investment Income and .9% Additional Medicare Tax on Wage and Self-Employment Income. Sep 18, 2013. by Gregory S. Dowell, CPA.

Employers responsibility for FICA payroll taxes - Wolters Kluwer

There is no employer portion for the 0.9 percent additional Medicare tax on high-earning employees. ... The employee can then apply the additional income tax ...

Additional Medicare Tax of 0.9% on Earned Income - thisMatter.com

The self-employed can deduct ½ of self-employment taxes from gross income, but the Additional Medicare Tax is not included in figuring the deduction — only the ...

What You Should Know About the Medicare Tax | Shepherd Elder Law

This can represent a significant expense, particularly for high earners who also face the additional 0.9 percent tax. To mitigate this, self- ...

2013 Update Additional 0.9% Medicare Tax on Earned Income of ...

Additional 0.9% Medicare Tax on Earned Income of High Income Individuals.

Employer's Withholding Obligations for Additional Medicare Tax

This additional tax also applies to self-employment income. As part of this new Medicare tax obligation, each employer is statutorily required ...

Social Security and Medicare Contributions and Wage Limits

Starting in 2013, people with high salaries will pay a new additional Medicare tax of 0.9%. Unlike the rest of Medicare, this new tax depends on your filing ...

Payroll, Academic Personnel & HR - Medicare Tax FAQ

Both employees and employers have to pay this rate. Once an employee reaches $200,000 in Medicare taxable wages, the employee is subject to an extra 0.9% ...

Net Investment Income Tax & Additional Medicare Tax

Neither employee individually has exceeded the $250,000 threshold so neither employer will withhold the Additional Medicare Tax. In this case, ...

Medicare Tax FAQ - Service Now

Once an employee reaches $200,000 in Medicare taxable wages, the employee is subject to an extra 0.9% Medicare tax withholding. UCPath reflects the additional .

FICA Tax: Rates, How It Works in 2024-2025 - NerdWallet

FICA is a 15.3% payroll tax that funds Social Security and Medicare. Employees and employers split the total cost.

Medicare Taxes: An Overview for Employers - Indeed

In this pay period, the basic Medicare tax of 1.45% applies to total gross earnings of $30,000. The Additional Medicare Tax applies to the portion exceeding ...

2024 Payroll Update - Gross Mendelsohn

The employee Medicare tax rate will remain at 1.45%, except for high wage earners. ... additional Medicare tax of 0.9%. For withholding ...

The New 3.8% Medicare Tax on Unearned Income: What You Need ...

First off, the new Medicare tax increases the existing 2.9% Medicare tax rate on wages and earnings to 3.8% (on wages above $200,000 on a single return, ...

Benefits Planner: Retirement | Medicare Premiums - SSA

If you have a higher income, you'll pay an additional premium amount for Medicare Part B and Medicare prescription drug coverage.

IRS Issues Q&As on the Additional Medicare Tax under the Affordab

An individual is liable for the Additional Medicare Tax if the individual's wages, other compensation, or self-employment income (when combined with that of his ...

0.9% Additional Medicare Tax on Wage and Self-Employment Income

Starting in 2013, high-income taxpayers will face new taxes a 0.9% additional Medicare tax on wage and self-employment income.