Payroll Withholding
Employers are required to withhold state (not in florida), federal, social security and medicare taxes from employees paychecks.
The Paycheck amount should be Gross wages minus...
- Federal Withholding
- State Withholding (if any)
- Social Security Tax
- Medicare Tax
The amount of federal withholding is calculated by taking the number of exemptions the employee claims on his W-4 and finding the corresponding deduction on the withholding tables.
To print a W-4 for your employee for complete, click below.
To print IRS tables to calculate Federal Tax withholding, click below.
Social Security Tax is 6.2% of the gross wages for 2018.
If gross wages for 2018 exceed $128,400, no further social security tax is deducted.
Medicare Tax is 1.45% of the gross wages for 2018
Wages are uncapped for medicare tax.
Additional Medicare Tax of 0.9% for a total of 2.35% on high earners in 2018.
On wages over $200,000 for Singles and $250,000 for Married Filing Jointly.
