What are the taxable limits for Social Security, Medicare, and FUTA taxes?

SYMPTOM

What are the tax year 2018 tax ceilings for Social Security wages, Medicare wages, and FUTA wages?

SOLUTION

The current 2018 tax ceilings are as follows: 

• Social Security is $128,400.
• Social Security Tax is $7,960.80.
• FUTA is $7,000.
• Medicare has no ceiling.

Note: Please refer to IRS Publication 15 Circular E for additional information.

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