The maximum 401k contribution limit for 2024 increases to $23,000, up from $22,500 in 2023, up from $20,500 in 2022, and up from $19,500 in 2021. Your 401k is one of the three legs of the new retirement stool: you, you, and you. Historically, the 401k contribution limit usually...
The Medicare Tax Rate The Medicare portion of the FICA tax is 2.9%, of which half (1.45%) is paid by employees and the other half by employers. Unlike Society Security, there isno limiton the amount of wages subject to the Medicare portion of the tax. Also, the 6.2% Social Security ...