Ask Experts Questions for FREE Help !
Ask
    aliaricam3's Avatar
    aliaricam3 Posts: 37, Reputation: -2
    Junior Member
    		  
    #1

    Jan 10, 2008, 10:08 AM
    Medicare wages and Social Security Wages
    Hello All, Does any one know the difference between medicare wages and Social security wages vs total wages? ( on w-2 form)
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Jan 10, 2008, 12:00 PM
    On most W-2s, they are the same amount.

    However, employee contributions to either a Flexible Spending Account or to a 401K/403B pension plan may reduce the wage figure in Block #1.

    These contributions have NO EFFECT on the Block #3 (social security wages) or Block #5 (medicare wages) figure.

    There CAN BE other factors, but the case noted above is the most common reason why Block #1 differs from Blocks #3/5.
    MukatA's Avatar
    MukatA Posts: 7,110, Reputation: 176
    Tax Expert
    		  
    #3

    Jan 11, 2008, 02:59 AM
    If the total wages exceed $97,500 (for 2007), then there will be difference in #3 and #5.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #4

    Jan 11, 2008, 12:08 PM
    Agreed!
    miskyd82's Avatar
    miskyd82 Posts: 1, Reputation: 1
    New Member
    		  
    #5

    Mar 6, 2009, 05:36 PM
    Medicare wages are the gross wages less the health and dental deductions. Taxable wages are gross wages less health dental 401/457 PERS and other retirement deductions. Not sure what social security wages are... social security wages are not always the same as medicare.
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

F1-h1 social security and medicare [ 6 Answers ]

I am an indian citizen employed in the usa. My status for 2005 was : Jan-Oct : F1/OPT Oct-Dec : H1 My employer deducted social security and medicare taxes from oct-dec when I was on h1. While filing taxes, my tax consultant told me that since social security and medicare are charged per...

Social security wages, medicare wages [ 3 Answers ]

Hi, I am an international student in the US on F-1 visa. I have filed federal tax returns twice and NY state tax returns once preciously. Both times my W-2 did not show social security wages or medicare wages (and the tax withheld for each of these). However, this year my W-2 shows figures on...

Social Security and Medicare [ 7 Answers ]

Reply to My question The withholding of Social Security and Medicare taxes from the employee is the sole responsibility of the employer. If he fails to do it, the employer becomes responsible to pay both the employer's and the employee's share of the Social Security and Medicare taxes. The...

View more questions Search