Table H: Federal Information, Taxes, Income Ceilings, and Minimum Wage Standards SR 13-36, 11/13 (MAM-A)

4.    Self-employed individuals pay a FICA withholding amount of 15.3% (2.9% for Medicare and 12.4% for Social Security tax), but they deduct one-half of their FICA tax paid on their federal income taxes. This reduces their FICA contribution to 7.65%

5.    The income ceiling subject to the full FICA withholding rate is $113,700.

6.    There is no upper limit to the amount of gross earned income from which Medicare may be withheld.