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Andrew Schwartz CPA
Mar 31, 2010 - 7:47PM
Re: Increased medicare withholding with new healthcare legistation

Hi,

It's my understanding that a person making more than $250k would have Medicare taxes witheld from their pay at a rate of 1.45% on the first $250k earned, and then the Medicare taxes withheld will increase to 2.35% for each dollar earned over the $250k threshold. The employer will continue to pay 1.45% on each dollar earned.

I hope this answers you question.

Zip Code: 01801

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