An employee earned $47,000 during the year working for an employer. The FICA tax for social security (OASDI) is 6.2% and the FICA tax for Medicare is 1.45%. What is the employee’s share of FICA taxes?
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An employee earned $47,000 during the year working for an employer. The FICA tax for social security (OASDI) is 6.2% and the FICA tax for Medicare is 1.45%. What is the employee’s share of FICA taxes?
The same percentages 6.2% and 1.45% are withheld from the wages for the employees portion. The employer and employee pay the same percentages.
3,595.50
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