What does FICA stand for? What you need to know about federal payroll taxes.

Federal Insurance Contributions Act (FICA): What It Is, Who Pays

An employee earns 5,500 per month working for an employer. The FICA tax rate for Social Security is 6.2% of the first $118,500 earned each calendar year, and the FICA tax rate for Medicare is 1.45% of all earnings. The current FUTA tax rate is 0.6%, and the SUTA tax rate is 5.4%. Both unemployment taxes are applied to the first $7,000 of an employee's pay. The employee has $182 in federal income taxes withheld. The employee has voluntary deductions for health insurance of $150 and contributes $7

Social Security Tax (FICA) - Entrepreneur Small Business Encyclopedia

How to Find Out if Your Employer Is Taking Out Too Much for FICA

How to Calculate Federal Tax Withheld for Hourly Employees