Employee FICA Tax Calculator

FICA Tax Formula:

\[ \text{Employee FICA} = \text{Wages} \times 0.0765 \]

Employee FICA:

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1. What is Employee FICA Tax?

The Federal Insurance Contributions Act (FICA) tax is a United States payroll tax deducted from employees' paychecks to fund Social Security and Medicare. The employee portion is 7.65% of wages (6.2% for Social Security and 1.45% for Medicare).

2. How Does the Calculator Work?

The calculator uses the FICA tax formula:

\[ \text{Employee FICA} = \text{Wages} \times 0.0765 \]

Where:

$ \text{Wages} $ — Employee's gross wages in USD
$ 0.0765 $ — FICA tax rate (7.65%)

Explanation: The calculation multiplies gross wages by the combined FICA tax rate of 7.65%.

3. Importance of FICA Tax Calculation

Details: Accurate FICA tax calculation ensures proper withholding for Social Security and Medicare benefits, and helps employees understand their take-home pay.

4. Using the Calculator

Tips: Enter gross wages in USD. The value must be positive. The calculator will compute the employee's FICA tax contribution.

5. Frequently Asked Questions (FAQ)

Q1: Is there a wage base limit for FICA taxes?
A: For Social Security (6.2%), yes - it applies only to wages up to $160,200 (2023 limit). The Medicare portion (1.45%) applies to all wages.

Q2: Do employers match FICA contributions?
A: Yes, employers pay an equal 7.65% match for each employee's FICA tax.

Q3: Are there additional Medicare taxes?
A: High earners (over $200,000 single/$250,000 married) pay an additional 0.9% Medicare tax on wages above those thresholds.

Q4: Are tips subject to FICA tax?
A: Yes, reported tips are considered wages for FICA tax purposes.

Q5: Are self-employed individuals subject to FICA?
A: Self-employed individuals pay SECA tax (Self-Employment Contributions Act) which covers both employer and employee portions.