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

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.

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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.

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

Thanks!

The 2009 limit is $106800, and you stop paying SS tax after paying $6621.60.

MukatA is correct; the $104K I quoted was for 2008.