FICA Tax Calculator
Calculate your FICA tax obligations with this comprehensive calculator. FICA (Federal Insurance Contributions Act) includes Social Security tax and Medicare tax that fund federal insurance programs. This calculator computes both employee and employer portions, accounts for the 2024 Social Security wage base limit of $168,600, and includes Additional Medicare Tax for high earners. Perfect for W-2 employees, self-employed individuals, and payroll professionals. Get breakdowns by annual, monthly, bi-weekly, or weekly pay periods. Understand exactly how much goes to Social Security and Medicare from each paycheck.
Your gross annual income (W-2 wages)
Choose calculation period
Self-employed pay both halves of FICA
0.9% on income over $200K (single) / $250K (married)
Determines Additional Medicare Tax threshold
What is FICA tax?
FICA stands for Federal Insurance Contributions Act. It's a mandatory payroll tax that funds Social Security and Medicare. Every W-2 employee and employer pays FICA. Employees pay 7.65% (6.2% Social Security + 1.45% Medicare), and employers match it for a total of 15.3%. Self-employed individuals pay both halves (the "self-employment tax"). FICA appears on your pay stub as "Social Security" and "Medicare" deductions.
How much is FICA tax in 2024?
For 2024: Social Security is 6.2% on wages up to $168,600 (maximum tax: $10,453.20). Medicare is 1.45% on all wages (no cap). Additional Medicare Tax is 0.9% on income over $200K single/$250K married. Total employee FICA is 7.65% for most workers. Employers match the 7.65%. Self-employed pay 15.3% total (both portions). High earners pay 8.55% (1.45% + 0.9% additional) Medicare on income over thresholds.
What is the Social Security wage base limit?
The 2024 Social Security wage base is $168,600. You only pay 6.2% Social Security tax on income up to this amount. Once you earn $168,601, you stop paying Social Security tax for the year (but Medicare continues). This creates a maximum Social Security tax of $10,453.20 per year for employees. The limit adjusts annually for inflation. High earners effectively pay a lower percentage on total income.
Is there a limit on Medicare tax?
No, regular Medicare tax (1.45%) has no income cap - you pay it on all wages. However, high earners pay Additional Medicare Tax: 0.9% extra on income over $200K (single), $250K (married filing jointly), or $125K (married filing separately). This brings their total Medicare rate to 2.35% on income above the threshold. Employers don't match the additional 0.9% - it's employee-only.
What is the Additional Medicare Tax?
Additional Medicare Tax is an extra 0.9% tax on wages over $200,000 (single filers) or $250,000 (married filing jointly), enacted in 2013 to fund the Affordable Care Act. Unlike regular FICA, employers don't match this portion. It applies to W-2 wages, self-employment income, and railroad retirement compensation. Employers must withhold it once your year-to-date wages exceed $200K, regardless of filing status. You reconcile the exact amount when filing taxes.
Do self-employed people pay more FICA tax?
Yes. Self-employed individuals pay both the employee and employer portions of FICA, totaling 15.3% (12.4% Social Security + 2.9% Medicare), called "self-employment tax." However, you can deduct 50% of your self-employment tax (the employer half) when calculating adjusted gross income, reducing the effective rate to approximately 14.13%. W-2 employees only pay 7.65%, with employers paying the other 7.65%. This is a hidden cost of freelancing.
Can I get a refund of FICA taxes?
Generally no - FICA is not refundable like income tax. However, exceptions exist: If you overpaid (multiple jobs pushed you over the $168,600 Social Security cap), you can claim a refund on Form 1040. If you're exempt (student working for your university, certain religious groups), your employer may have incorrectly withheld. Self-employed individuals can adjust via quarterly estimated payments. Most workers can't reduce FICA - it's mandatory on wages.
Who is exempt from paying FICA taxes?
Exempt groups: Students working for the school they attend, Members of certain religious groups opposed to insurance, Nonresident aliens on F-1/J-1/M-1/Q-1 visas (first 5 years), Foreign government employees, Some state/local government employees with pension plans (though most now pay Medicare). Children under 18 working for parents are exempt from FICA (but not income tax). Wages paid to deceased employee's estate are also exempt.
How is FICA different from income tax?
FICA is a flat payroll tax (7.65%) that funds Social Security and Medicare - everyone pays the same rate. Income tax is progressive (10%-37% brackets) and funds general government operations. FICA has no deductions or credits - you pay on gross wages. Income tax has deductions, credits, and exemptions. FICA stops on Social Security wages over $168,600; income tax continues at all levels. FICA is usually not refundable; income tax often is if over-withheld.
Do I pay FICA on bonuses?
Yes, bonuses are considered wages and subject to FICA taxes (7.65% for employees, 15.3% for self-employed). Employers withhold FICA from bonuses just like regular pay. However, income tax withholding on bonuses often uses the supplemental rate (22% or 37%), which is different from regular wages. This can make your bonus "net" seem smaller. If you've already exceeded the $168,600 Social Security cap, bonuses only pay 1.45% Medicare (or 2.35% if over Additional Medicare thresholds).
What happens to my FICA contributions?
Your Social Security contributions (6.2%) fund retirement, disability, and survivor benefits. You earn "credits" toward future Social Security benefits - 40 credits (10 years of work) qualifies you for retirement. Your benefit amount is based on your highest 35 years of earnings. Medicare contributions (1.45%) fund health insurance for ages 65+. FICA isn't a savings account - current workers fund current retirees. Your future benefits depend on the system's solvency, not your individual contributions.
Do retirees pay FICA tax?
It depends on income type. Social Security benefits themselves are NOT subject to FICA tax. If you work while receiving Social Security (W-2 job or self-employment), you still pay FICA on those wages - there's no age exemption. Pension and 401(k) distributions are not subject to FICA. Investment income (interest, dividends, capital gains) is not subject to FICA. Only earned income (wages or self-employment) triggers FICA, regardless of age. Medicare premiums are separate from FICA.