Tax

FICA Tax

Federal Insurance Contributions Act tax funding Social Security (6.2% up to $168,600 in 2024) and Medicare (1.45% with no cap). Employers match employee contributions.

Related Terms

Social Security
Medicare
Payroll Tax

Related Calculators

Take-Home Pay Calculator

Understanding FICA Tax

FICA Tax is a key concept in tax. Understanding this term helps you make more informed financial decisions. Use our related calculators above to see how fica tax affects your specific situation.