What are FICA Taxes? Rates and Tips To Save Money in 2025
By: Marshall Hargrave FICA Tax Definition: FICA taxes are federal payroll taxes used to fund Social Security and Medicare programs. The total FICA tax rate is 15.3%, with 12.4% allocated to Social Security and 2.9% for Medicare. Both employees and employers contribute to these taxes, each paying 7.65% of the employee’s wages. Keeping track of […]
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