How much is the social security tax?

Answer 1

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 wage considerations in many ways, (it has a top limit of about 106,800, how pension contributions factored, State taxes, etc.).

If you are an employee, the employer MUST pay half of the contribution so you pay 7.65% and the employer pays the same. If you're self-employed, the amount normally paid by the employer is collected through something called the "self employment tax" when you file your income tax return.

Answer 2

Virtually all workers, and certainly all employees, pay SS tax. If yoru self employed you pay both the employers and employees portion. (Some certain types of governmental employees actually are exempt and pay into a plan almost identical, but called something else.)

Answer 3

In the UK you do not pay tax on social security benefit.

In the USA the Social Security tax is levied equally on employees and employers. It is about 7.65% on each. The tax is limited to a certain dollar amount each year for highly paid workers. Self-employed people have to pay in both halves (15.3%).

Answer 4

The social security tax is 6.2 percent of an employee's wage. An employer also contributes another 6.2 percent, which is a total of 12.4 percent.

Answer 5

The employer and employee each pay 7.65% of the first $106,800 of the employee's gross annual salary toward FICA, a flat rate of 15.3%, total.

Answer 6

The employer and employee each pay 7.65% of the first $106,800 of the employee's gross annual salary toward FICA, a flat rate of 15.3%, total.