How much do I deduct from my check for Medicare?

Answer On One Hand: Employees Pay One-Half of Medicare TaxMedicare tax is calculated by multiplying total wages by 2.9 percent. There is no limit to the amount of wages subject to medicare tax. However, e... Read More »

Top Q&A For: How much do I deduct from my check for Medicare

Why do they always deduct Medicare tax from my paychecks yet I don't have any form of health assistance?

"Hey government, why don't you help me pay another doctor by giving me my Medicair/are money back so I can make it to 65?"Where, pray tell, do you think the 'government' would get the money to "pay... Read More »

Can I deduct Medicare part B in my taxes?

Medicare part B is a form of heath insurance. Health insurance premiums are tax deductible under medical expenses on your itemized deductions. Any insurance premium, including Medicare part B, can ... Read More »

How much can you deduct from donating to a 501c3?

You can deduct up to 50 percent of your adjusted gross income for donations to 501(c)(3) organizations that are public charities, private operating foundations and certain private foundations. Up t... Read More »

How much can you deduct from your taxes for clothing donations?

Making clothing donations is a smart way to trim your tax bill, as you can deduct your clothing donations from your taxes. You must be truthful and honest when calculating how much you will deduct... Read More »