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Are fica taxes an option?

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NO you do not have any choice about this INSURANCE program.
FICA stands for "Federal Insurance Contributions Act." It's the tax withheld from your salary or self-employment income that funds the Social Security and Medicare programs.
The (OASDI) Old Age Survivor and Disability Insurance (FICA) (social security and Medicare taxes) all mean the same tax for social security benefits (SSB or SSDI). All mean the same thing.
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What is the percentage of Fica taxes?

FICA contributions, including various sub (categories of things like SS, Disability, Health, etc) are 15.30% of FICA wages. What is considered FICA wages differ from other wag

What is the purpose of FICA taxes?

It provides health insurance for people who are retired or disabled. It helps the state government finance education projects. It helps local councils finance development

How do you calculate FICA tax?

You do not calculate FICA tax by asking Answers.com. You calculate the FiCA tax by going to the Internal Revenue Web Site and looking at the information on their form. Then yo

What wages are taxed for fica?

I am drawing Social Security now at age 69. I work a school crosswalk job. They hold out F.I.C.A. taxes. Should I be paying S/S taxes now?

What is the purpose of a FICA tax?

A Fica tax has several different purposes that serve different people. A Fica tax serves to finance government educational programs and developmental projects. A Fica tax also

What is the fica taxes for 2010?

Still 6.2% for both employer & employee. Actually, that 6.2% is just for the social security tax portion of FICA. FICA consists of social security and medicare. The total FIC

What is the purpose if a FICA tax?

FICA stands for Federal Insurance Contributions Act! It's a tax that employers take out of employees' pay check for social security benefits for the elderly, disabled, the ret

Do you pay income tax on FiCA?

Federal Insurance Contribution Act (FICA) Yes it is possible when you start receiving your social security benefits that you qualify for. From 50% to 85% of the amount that yo

What is a purpose of a fica tax?

The fica is taken out of your paychecks and added to the Social Security fund.

What is a FICA tax?

under the fedaral insurance contributions act 12.4% of income up tto an annual limit must be paid into social security and a additional 2.9% must be paidd into medicare

Does your employer pay FICA taxes?

Yes. The way it works in most cases is that you pay FICA taxes in the amount of 6.2% of your gross income and your employer also pays the same amount. Also you are required to