FICA Tax Calculator
Calculate Social Security and Medicare taxes under the Federal Insurance Contributions Act (FICA)
Calculate FICA Tax
Your total gross wages or self-employment income for the year
Self-employed pay both employee and employer portions
Choose perspective for calculation
Affects Additional Medicare Tax threshold: $200,000.00
FICA Tax Results
Social Security Tax
Medicare Tax
Additional Medicare
Calculation Summary: Gross Income: $50,000.00 | Employment: Employee Only
Tax Components: Social Security: $3,100.00 | Medicare: $725.00 | Additional Medicare: $0.00
Tax Base Limits: SS Taxable Wages: $50,000.00 | Additional Medicare Taxable: $0.00
2023 FICA Tax Rates
Social Security
6.2% (employee/employer)
12.4% (self-employed)
Wage base limit: $160,200
Medicare
1.45% (employee/employer)
2.9% (self-employed)
No income limit
Additional Medicare
0.9% (high earners)
Applies over income thresholds
FICA Tax Tips
FICA taxes fund Social Security and Medicare programs
Self-employed individuals pay both employee and employer portions
Social Security tax has a wage base limit, Medicare does not
Additional Medicare tax applies to high-income earners
FICA taxes are typically withheld from paychecks
Understanding FICA Taxes
What is FICA?
FICA (Federal Insurance Contributions Act) taxes fund two major social insurance programs: Social Security and Medicare. These programs provide benefits for retirees, disabled individuals, and healthcare coverage for seniors.
FICA Components:
- Social Security Tax: 6.2% (up to wage base limit)
- Medicare Tax: 1.45% (no income limit)
- Additional Medicare Tax: 0.9% (high earners only)
Who Pays FICA Taxes?
FICA taxes are typically split equally between employees and employers. However, self-employed individuals must pay both portions.
Tax Responsibility:
- Employees: Pay 7.65% of wages (6.2% + 1.45%)
- Employers: Match employee contribution (7.65%)
- Self-employed: Pay full 15.3% (12.4% + 2.9%)
- High earners: Additional 0.9% Medicare tax
Social Security Wage Base
Social Security tax is only applied to wages up to the annual wage base limit. Once you earn above this amount, you stop paying Social Security tax for the year.
- 2023 wage base limit: $160,200
- Medicare tax has no wage base limit
- Wage base typically increases annually
- Self-employed follow same limits
Additional Medicare Tax
High-income earners pay an additional 0.9% Medicare tax on wages above certain thresholds, based on filing status.
- Single/Head of Household: $200,000
- Married Filing Jointly: $250,000
- Married Filing Separately: $125,000
- Only paid by employee (not employer)