Medicare Taxable
March 8th, 2010If you're new here, you may want to subscribe to my RSS feed. Thanks for visiting!
Question: how much will i owe/get back in taxes? is oasdi tax calculated into total taxes removed?
i've tried the tax calculators online but i'm not sure if the oasdi and hi taken out get calculated into the tax total that i can claim was removed or if i can only claim that the 1307 was taken out. thanks!
Earnings $24,954.28
Pre-Tax Deductions $1,049.52
Federal Taxable Wages $23,853.51
Social Security Taxable Wages $23,853.51
Medicare (HI) Taxable Wages $23,853.51
State Taxable Wages $23,853.51
Total Taxes $3,701.25
After-Tax Deductions $113.67
Net Pay $20,089.84Federal Tax $1,307.45
Missouri Tax $569.00
FICA - OASDI Tax $1,478.92
FICA - HI Tax $345.88
TOTAL TAXES: $3,701.25
Answer: On your federal (IRS) return, only the $1307.45.
On your state (MO) return, only the $569.You cannot claim the FICA on either one.
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