Question: how is social security taxes for 2018?
Answer: Social Security taxes are assessed on all wages earned, up to a capped maximum. In 2018, the cap is $128,400. Employees are taxed at 6.2% of wages earned, so if someone earned the maximum taxable wages of $128,400, they would pay $7,960.80. In addition to Social Security taxes, workers also pay a Medicare tax of 1.45%.