01.Core Concepts

Some beneficiaries who receive monthly cash benefits must pay an income tax on part of the benefits The amount depends on the level of your combined income O A S D I and Medicare benefits are financed by a payroll tax paid by employees, employers, and the self-employed In 2018, the Social Security portion is 6.2 percent on covered earnings up to a maximum of $128,400 The Medicare portion is 1.45 percent on all earned income