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Click ‘Get Form’ to open the Social Security and Medicare tax for 2016 document in the editor.
Begin by entering the number of agricultural employees on line 1. This should reflect all employees on your payroll during the relevant pay period.
For line 2, input the total cash wages subject to social security tax that you paid to your employees for farmwork during the year. Ensure this amount is before any deductions.
On line 4, enter the total cash wages subject to Medicare tax, again before deductions. Remember, there is no limit on wages subject to Medicare tax.
Calculate and enter the social security tax on line 3 by multiplying the amount from line 2 by 12.4%. For line 5, calculate Medicare tax by multiplying the amount from line 4 by 2.9%.
Complete lines for federal income tax withheld (line 8) and any additional taxes as required. Review all entries for accuracy before finalizing.

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What is the maximum Social Security tax for 2016?

The maximum limit, which increases annually according to growth in the national average wage index, is $118,500 for 2016. Any income above the limit is not subject to the tax.

What were the tax rates in 2016?

Estimated Income Tax Brackets and Rates RateSingle FilersMarried Joint Filers 15% $9,275 to $37,650 $18,550 to $75,300 25% $37,650 to $91,150 $75,300 to $151,900 28% $91,150 to $190,150 $151,900 to $231,450 33% $190,150 to $413,350 $231,450 to $413,3504 more rows

When did Social Security start being taxed at 85%?

In 1993, legislation was enacted which had the effect of increasing the tax put in place under the 1983 law. It raised from 50% to 85% the portion of Social Security benefits subject to taxation; but the increased percentage only applied to higher income beneficiaries.

How much was Medicare tax in 2016?

Under Social Security, the tax rate was the same (6.2 percent) for both employees and employers. The rate for self-employed workers equaled the combined employee and employer rate of 12.4 percent. Under Medicare, the rate was also the same (1.45 percent) for both employees and employers.