Calculating Social Security and Medicare Taxes Assume a Social Security tax rate of 6.2% is applied to maximum earnings of $128,400 and a Medicare tax rate of 1.45% is applied to all earnings. Calculate the Social Security and Medicare taxes for the following situations: If required, round your answers to the nearest cent. Cumul. Pay Before Current Current Weekly Payroll Gross Pay Year-to-Date Earnings Soc. Sec. Maximum Amount Over Max. Soc. Sec. Amount Subject to Soc. Sec. Soc. Sec. Tax Withheld 21,800 $1,760 $128,400 54,200 4,320 128,400 126,900 3,900 128,400 127,400 4,660 128,400