FICA (or the Federal Insurance Contributions Act) is a tax which that deducts payments from your salary for Social Security and Medicare. The FICA tax is deducted directly from your paycheck and is based upon your income.
This tax is based upon how much you earn with contributions made directly by the employee and the employer. Both Medicare and Social Security have specific percentages applied to them. Each tax year, these numbers can change, but they’ve stayed fairly consistent for the past two decades.
The Medicare portion of the FICA is calculated against your entire earnings, but the Social Security portion is capped at a certain point so that the how much Social Security tax you paid is also capped. The FICA thresholds table shows the highest amount of Social Security you can expect to pay for each tax year. This relies on whether you’re self-employed or an employee. This will be discussed more thoroughly later in the page.
Enter your annual salary as either someone who is self-employed, an employee, or an employer in order to approximate your FICA payment. After selecting the correct year, the calculator will do everything else. If you’d like, you can also see the entire Federal and State tax calculation for , or make your own calculation based on your own salary.
FICA Calculator [2018 Tax Tables]
2018 FICA Calculations
Sub Total FICA
2018 FICA Calculations
Social Security Earnings Threshold
Social Security %
Sub Total FICA %
Total FICA (Max %)
Social Security Computed Percentage
Social Security % Paid
Tip: Social Security has a salary threshold. Any earnings past that amount will not need to be paid. Similarly, the amount of sexual security you pay as a portion of your income is reduced in practical ways. The table’s percentage is the actual percentage that you paid social security.
How to calculate FICA
As was mentioned at the start of this article, FICA calculations contain two parts: Social Security and Medicare. Both of which are calculated as a portion of your income, but as we said, Social Security is capped at an earnings threshold.
Your status weighs into the amount FICA you pay. The examples below show the results from a $100,000 salary. To ensure that everything is easily understood, we’ll use placeholder rates for social security (10%) and Medicare (5%), and a placeholder Self-Employment of 90%. The FICA calculator uses the real factoring.
In our FICA Calculation examples, we will use the following abbreviations:
i = Annual Income
rss = Social Security Rate
thss = Social Security Threshold
rmed = Medicare Rate
rse = Self-Employed rate (factoring used to simulate an employer making FICA contributions on your behalf)
It’s important to mention that Medicare is two-tiered. The initial rate is applied at a fixed amount against your total income. The Additional Medicare Tax, the secondary rate, gives an additional tax deduction once your earnings pass a defined threshold. The FICA Calculator includes the Additional Medicare Rate and will detail whether the calculation is included and the additional tax costs associated with the Additional Medicare Tax.
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