Medicare Taxes

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Medicare Taxes are withdrawn from an employee's paycheck each pay period. When calculating payroll taxes, this tax is an easy calculation.
The employee and the employer split the Medicare tax. The employee pays 1.45% of their taxable wages and the employer pays the other 1.45%. Therefore, 2.9% is deducted from the employee's paycheck for Medicare taxes.
The medicare tax is remitted to the IRS by the employer when scheduled payroll taxes are due.
The medicare tax is also known as part of the FICA tax. FICA is a combination of the Medicare tax and the Social Security tax.

Medicare Taxes

 

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