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2008 FICA BASE: $102,000

November 19, 2007

The IRS has announced (Notice 2007-92) that the FICA base for 2008 will be $102,000. That means the employer and employee FICA tax of 6.2% will max out at $6,324. The $102,000 is also the ceiling for the 12.4% social security portion of the self-employment tax.

The base was $97,500 for 2007.

There is no ceiling for the 1.45% (2.9% for self-employeds) Medicare tax.

Tags: FICA base.self-employment tax.

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