{"id":3005,"date":"2016-06-29T21:55:08","date_gmt":"2016-06-29T21:55:08","guid":{"rendered":"http:\/\/www.lmgw.com\/?p=3005"},"modified":"2016-06-29T21:55:08","modified_gmt":"2016-06-29T21:55:08","slug":"additional-medicare-tax","status":"publish","type":"post","link":"https:\/\/lmgw.com\/wordpress\/services\/tax\/additional-medicare-tax\/","title":{"rendered":"What is the Additional Medicare Tax"},"content":{"rendered":"<p>Some taxpayers may be required to pay an Additional Medicare Tax if their income exceeds certain limits. Here are some things that you should know about this tax:<\/p>\n<p><b>1. Tax Rate<\/b>. The Additional Medicare Tax rate is 0.9 percent.<\/p>\n<p><b>2. Income Subject to Tax<\/b>. The tax applies to the amount of certain income that is more than a threshold amount. The types of income include your Medicare wages, self-employment income, and railroad retirement (RRTA) compensation. If you&#8217;re not sure if you have income subject to these rules, please call the office.<\/p>\n<p><b>3. Threshold Amount<\/b>. You base your threshold amount on your filing status. If you are married and file a joint return, you must combine your spouse&#8217;s wages, compensation or self-employment income with yours. Use the combined total to determine if your income exceeds your threshold. The threshold amounts are:<\/p>\n<ul>\n<li>Married filing jointly: $250,000<\/li>\n<li>Married filing separately: $125,000<\/li>\n<li>Single: $200,000<\/li>\n<li>Head of household: $200,000<\/li>\n<\/ul>\n<p><b>3. Withholding\/Estimated Tax<\/b>. Employers must withhold this tax from your wages or compensation when they pay you more than $200,000 in a calendar year. If you are self-employed you should include this tax when you figure your estimated tax liability.<\/p>\n<p><b>4. Underpayment of Estimated Tax<\/b>. If you had too little tax withheld, or did not pay enough estimated tax, you may owe an estimated tax penalty. For more on this, please call.<\/p>\n<p><b>5. Form 8959<\/b>. If you owe this tax, file Form 8959, <i>Additional Medicare Tax<\/i>, with your tax return. You also report any Additional Medicare Tax withheld by your employer on Form 8959.<\/p>\n<h3>Questions?<\/h3>\n<p>If you have any questions about the Additional Medicare Tax, help is just a phone call away.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Some taxpayers may be required to pay an Additional Medicare Tax if their income exceeds certain limits. Here are some things that you should know about this tax: 1. Tax Rate. The Additional Medicare Tax rate is 0.9 percent. 2. Income Subject to Tax. The tax applies to the amount of certain income that is [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-3005","post","type-post","status-publish","format-standard","hentry","category-tax"],"_links":{"self":[{"href":"https:\/\/lmgw.com\/wordpress\/wp-json\/wp\/v2\/posts\/3005","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lmgw.com\/wordpress\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lmgw.com\/wordpress\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lmgw.com\/wordpress\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/lmgw.com\/wordpress\/wp-json\/wp\/v2\/comments?post=3005"}],"version-history":[{"count":1,"href":"https:\/\/lmgw.com\/wordpress\/wp-json\/wp\/v2\/posts\/3005\/revisions"}],"predecessor-version":[{"id":3006,"href":"https:\/\/lmgw.com\/wordpress\/wp-json\/wp\/v2\/posts\/3005\/revisions\/3006"}],"wp:attachment":[{"href":"https:\/\/lmgw.com\/wordpress\/wp-json\/wp\/v2\/media?parent=3005"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lmgw.com\/wordpress\/wp-json\/wp\/v2\/categories?post=3005"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lmgw.com\/wordpress\/wp-json\/wp\/v2\/tags?post=3005"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}