OASDI/EE tax withdrawn from my paychecks.

Mark00Best · #1 Oct 8, 2009, 03:33 AM

I was wondering if there was a cap on the OASDI/EE withdrawals from my weekly paychecks?

mom101 · Oct 25, 2009, 05:36 PM

Quote:

Originally Posted by AtlantaTaxExpert

Yes. Once your annual income hit $104,000, the Social Security withholding STOPS.

The Medicare tax (at 1.45%) has no income cap on it, however.

So, does this mean that everyone stops paying Social Sec. when they have put in $6448 for the year?

Thanks!



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