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Reply to "Percentage withheld for Medicare and social security"
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[quote=Anonymous]If you aren't sure what you're doing, then you need to use a service. If my nanny came to me with these complaints, I could sit down with her with the W4 and the computer and very quickly show her exactly how I calculate her withholding each pay period, showing her the tax tables. There would be no continued arguing, because I know I'm doing it correctly. If she still didn't believe it, I'd send her to an accountant at her her own expense to have someone else tell her the exact same thing. But to answer your question, currently, Medicare is 1.45% and Social Security is 6.2% of wages. You will pay an equivalent amount when you pay your employer taxes. [/quote]
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