Deltek Vantagepoint Help

Using the Help Search
Using the Help Search
  • Phrase:Returns all topics that contain the exact phrase in the search criteria. Use quotation marks around the phrase.
    Ex."system administration"
  • And:Returns all topics that contain all the words in the search criteria, in any combination. Insert a plus sign between all words in the search criteria.
    Ex.system + administration
  • Or:Returns all topics with any combination of words in the search criteria. This is the default.
    Ex.system administration
For more information:Searching Online Help

FICA (HI) Medicare Tax

Vantagepoint calculates FICA (HI) Medicare tax based on the employee's gross wages.

How Vantagepoint Calculates Tax

To calculate an employee's Medicare tax, Vantagepoint does the following:

  1. Subtracts any 125/Cafeteria Plan contributions from the employee's gross wages.
  2. Multiplies the resulting amount by 1.45%. There is no maximum wages amount.

An additional tax rate of 0.9% is applied when the employee's wages exceed the threshold amount of the filing status, setting the total Medicare tax at 2.35%. The threshold amount is $250,000 for married filing jointly and $200,000 for the other filing statuses.

Employer FICA amounts are calculated in each payroll run and posted as part of a combined FICA liability, but are not stored as a separately reportable value.

Vantagepoint now takes a flat withholding percentage of the taxable wages for the employer FICA-HI when the withholding is set to System and is Active. This employer liability is not annualized. As a result, there will be a rounding difference between the payroll deductions and the 941 liability for the employer liability. When the FICA-HI withholding is not set to System or is inactivated, no employer portion is posted. The 941 report will always reflect the 1.45% or 2.35% liability owed, regardless of withholding method.