Social Security Rate: 6.2%. Max taxable earnings: $137,700
Medicare Rate: 1.45%. Max taxable earnings: No limit
Source: https://www.ssa.gov/policy/docs/quickfacts/prog_highlights/RatesLimits2020.html
2020 FICA Tax Rates & Limits
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Jeff Cecchini
Jeff is the CEO of Advisoran. He has founded numerous successful businesses in the industries of bookkeeping, tax, payroll processing, software development, and construction. He brings this real world experience to guide his clients to their success. His goal is to help entrepreneurs build healthy businesses that improve their lives.
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