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Does an employer pay the same percentage in Social Security tax that an employee pays?
Wiki User
∙ 13y ago
Yes. You contribute half from your earned wages, and your employer matches that amount from company funds, for a total of 15.3% of your income (or less, if you earn more than $106,800 per year). Your employer is responsible for making the FICA contributions and for handling any other administrative work.
Wiki User
∙ 13y ago
Wiki User
∙ 13y agoYes. In 2010 and 2011, you each pay 6.2% of your wages, up to $106,800 per year for Social Security, and 1.45% of your total wages for Medicare Part A (hospitalization). The employee and employer each contribute 7.65%, or a total of 15.3%, to FICA.
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If the employer pays the employees' portion of the Social Security tax what is that percentage?
For the social security amount and the Medicare the total percentage is 15.3%. Employer and employee each is supposed to pay one half of the amounts. Employer Medicare 1.45% SS tax 6.2% equal 7.65%. Employee should be the same amounts.
Is it legal for an employer not to deduct or pay social security taxes from their employee wages?
No.
What is the total percentage of income that will be withheld from any employee's paycheck for Social Security and Medicare taxes?
For 2012, the Social Security (FICA) deduction is 6.2%; the Medicare deduction is 1.45%, for a total of 7.65%. The employer pays the same percentages.
Are Social Security Taxes on employees or employers?
Both. Employers and employees contribute an equal percentage of the employee's income to Social Security.
Can an employee be exempt from paying social security tax even if the employer is not?
See http://www.losthorizons.com/Newsletter.htm
Which taxes are paid by both the employer and employee at the same rate?
Social Security tax & Medicare tax
What does the employee pay for social security and medicare?
It is calculated on a percentage basis of the gross income.
What is the Difference between gross pay and social security wages?
From the employer to the employee no difference gross pay earnings and social security wages earnings would be the same thing.
Is social security tax paid by both business and individual consumers?
The employer and employee both contribute to the fund.
What would be my social security withholding if my income was 21899.77?
An employee with a employer would have 7.65% withheld from from gross earnings. 21899.77 X .0765 = 1675.33 social security and medicare taxes.
What percentage is taken out of an employee's pay check for social security tax for 2009?
Just about eveything you need to know about this and most any payroll matter is addressed in the famous Publication 15. http://www.irs.gov/pub/irs-pdf/p15.pdf 6.2 percent is taken out of an employee's paycheck for Social Security Taxes
What tax is paid equally by the employer and employee is the?
The required Social security and medicare taxes. Also known as the FICA taxes.
