Payroll Tax Calculator
Employee FICA Taxes
Employer + Employee (Total)
Formula
Social Security = min(salary, $168,600) × 6.2%; Medicare = salary × 1.45%; Total FICA = SS + Medicare
Frequently Asked Questions
What is FICA?
FICA stands for Federal Insurance Contributions Act. It includes Social Security (6.2% on wages up to $168,600) and Medicare (1.45% on all wages) taxes, paid by both employees and employers.
What is the additional Medicare tax?
An additional 0.9% Medicare tax applies to wages exceeding $200,000 for single filers. This is only paid by the employee, not matched by the employer.
You may also need
$
Tax Bracket Calculator
Free 2024 US federal tax bracket calculator. Find your marginal and effective tax rate based on taxable income and filing status.
Finance$
Budget Calculator
Free budget calculator using the 50/30/20 rule. Allocate your monthly income into needs, wants, and savings categories.
Finance$
Payroll Tax Calculator
Free payroll tax calculator. Calculate FICA taxes including Social Security (6.2%) and Medicare (1.45%) withholdings from your gross salary.
Finance