(More on that below.) The Medicare tax rate is another thing you need to know. It’s 2.9% of earned income and wages. As a W-2 employee, you pay half of that tax (1.45%), and your employer pays ...

Senate Democrats are gearing up for a fight against Scott Bessent, President-elect Donald Trump’s pick for Treasury secretary ...

you have to pay an additional Medicare tax. This tax is calculated at 0.9% of your wages above the $200,000 mark. If you are married and file jointly, that additional tax will apply to earnings ...

The tax you withhold from your employees' paychecks to cover the cost of Medicare expenses If you're preparing your employees' paychecks yourself, you need to be aware of the deductions you must ...

Medicare tax is 2.9% for most people and 3.8% for high earners. But these maneuvers by the rich hasten Medicare’s future crisis. Sometime in the 2030s, the program’s trust fund is due to run dry.