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Home > Money & Services > Taxes   »   fica tax

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Old Aug 18, 2008, 06:38 AM
murali2
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fica tax
what is fica tax how it is calculated

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Old Aug 18, 2008, 07:40 AM   #2  
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FICA taxes are the Social Security and Medicare taxes.

Social Security is assessed at 6.2% of every dollar earned up to $104,000 in 2008.

Medicare is assessed at 1.45% on EVERY dollar earned; there is NO CAP for Medicare taxes.
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