MED tax is the tax that is paid to Medicare. FICA tax is the tax paid to pay for Social Security benefits.
The maximum FICA tax for 2011: Employee 5.65% Employer 7.65% SSI: Employee 4.20% Employer 6.20% MED: Employee 1.45% Employer 1.45% Income subject to SSI tax: $106,800 Employee $4,485.60 Employer $6,621.60
The maximum FICA tax for 2011: Employer 7.65% SSI: Employee 4.20% Employer 6.20% MED: Employee 1.45% Employer 1.45% Income subject to SSI tax: $106,800 Employee $4,485.60 Employer $6,621.60
What's the meaning og "fica me" in spanish
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 provides those who are disabled and/or retired with insurance.
employers pay the 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 you plug your numbers into their formula.
Yes, plus Medicare tax. FICA is the acronym for the Federal Insurance Contributions Act.
I am over 65, and on Medicare. I am also still working, and being paid wages. FICA- Med is still withheld from my paycheck. You should expect that as well.
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 you plug your numbers into their formula.
The maximum amount of wages subject to the FICA-Social Security tax for 2009 is $106,800. There is no limit on the amount of wages subject to the FICA-Medicare tax.
The fica is taken out of your paychecks and added to the Social Security fund.
1996