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Posts Tagged ‘fica’

What is FICA?*

Icon Written by Administrator on April 29, 2009 – 9:37 pm

The Federal Insurance Contributions Act (FICA) tax (pronounced /ˈfаɪkə/) is a United States payroll (or employment) tax imposed by the federal government on both employees and employers to fund Social Security and Medicare —federal programs that provide benefits for retirees, the disabled, and children of deceased workers. Social Security benefits include old-age, survivors, and disability […]

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Social Security (FICA) Wage Limits and Tax Rates

Icon Written by Administrator on April 29, 2009 – 9:03 pm

While Social Security and Medicare rates have remained the same for the last 12 years, Social Security limit has grown 63% during the same time period.

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