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After you file
For 2023, the maximum income subject to Social Security tax is $160,200, which means the maximum tax for the year is $9,932.40. The $168,800 maximum is for 2024.
If your income is over $200,000 there is an additional Medicare tax of 0.9% on the amount over $200,000. That amount is the same every year.
Social Security and Medicare taxes are referred to as FICA.
‎December 7, 2023
12:03 PM