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What is the maximum amount of income that is subject to FICA taxes?

En español | The maximum taxable income for Social Security for 2020 is $137,700. If you make more than that from work, the excess won't be subject to the portion of FICA taxes that fund Social Security. (That's 6.2 percent of your gross wages if you have a job and 12.4 percent of net proceeds from self-employment.)

However, there is no maximum income when it comes to Medicare. You pay the Medicare portion of FICA — 1.45 percent of wages from a job, 2.9 percent of self-employment income — on every dollar you earn from work.

Updated March 25, 2020

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