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What is maximum social security taxes

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What is maximum social security taxes

The Social Security /Medicare combined tax rate is 7.65%. 

This tax rate is the combined rate for Social Security and Medicare.  The Social Security portion (OASDI) is 6.20% on earnings up to the applicable taxable maximum amount (see attached screenshot)).

At the 2016 maximum earnings for SS ($118,500) , the annual tax would be $7,347.

See: https://www.ssa.gov/news/press/factsheets/colafacts2016.html

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