FICA Tax Calculator (Employee Share)
Estimate your FICA tax contributions based on your annual gross income.
Your Estimated FICA Contributions:
Social Security Tax:
Medicare Tax:
Additional Medicare Tax:
Total FICA Tax (Employee Share):
Understanding FICA Taxes
The Federal Insurance Contributions Act (FICA) tax is a U.S. federal payroll tax deducted from your paycheck. These taxes fund Social Security and Medicare, which provide benefits for retirees, the disabled, and children of deceased workers, as well as healthcare for seniors and certain disabled individuals.
Components of FICA Tax
FICA tax is comprised of two main parts:
- Social Security Tax: This portion funds retirement, disability, and survivor benefits. For employees, the Social Security tax rate is 6.2% of your gross wages. However, there's an annual wage base limit, meaning only earnings up to a certain amount are subject to this tax. For 2024, this limit is $168,600. Any income earned above this threshold is not subject to Social Security tax.
- Medicare Tax: This portion funds hospital insurance for the elderly and disabled. The Medicare tax rate for employees is 1.45% of your gross wages. Unlike Social Security, there is no wage base limit for Medicare tax; all earned income is subject to it.
- Additional Medicare Tax: An extra 0.9% Medicare tax applies to individual earnings above a certain threshold ($200,000 for single filers, $250,000 for married filing jointly, or $125,000 for married filing separately). This additional tax is only paid by the employee, not the employer. Our calculator assumes a single filer threshold for simplicity.
How the FICA Calculator Works
Our FICA Tax Calculator helps you estimate your employee share of these federal taxes. Simply enter your annual gross income, and the calculator will apply the current tax rates and limits to provide an estimate of your Social Security, Medicare, and any applicable Additional Medicare Tax contributions, as well as your total FICA tax burden.
Important Considerations
- This calculator provides an estimate for the employee's share of FICA taxes only. Employers also pay a matching share of Social Security and Medicare taxes.
- The wage base limit for Social Security and the threshold for Additional Medicare Tax can change annually. This calculator uses the 2024 figures for these limits.
- This calculation does not include other payroll deductions like federal income tax, state income tax, local taxes, or other benefits.
- If you are self-employed, you pay both the employee and employer portions of FICA taxes, known as Self-Employment Tax. This calculator is not designed for self-employment tax.
- Always consult with a qualified tax professional for personalized tax advice.
Example Calculation
Let's say an individual has an annual gross income of $75,000 in 2024.
- Social Security Tax: $75,000 (below the $168,600 limit) * 6.2% = $4,650
- Medicare Tax: $75,000 * 1.45% = $1,087.50
- Additional Medicare Tax: $0 (since $75,000 is below the $200,000 threshold)
- Total FICA Tax: $4,650 + $1,087.50 + $0 = $5,737.50
If an individual earns $250,000 in 2024:
- Social Security Tax: $168,600 (wage base limit) * 6.2% = $10,453.20
- Medicare Tax: $250,000 * 1.45% = $3,625.00
- Additional Medicare Tax: ($250,000 – $200,000) * 0.9% = $50,000 * 0.9% = $450.00
- Total FICA Tax: $10,453.20 + $3,625.00 + $450.00 = $14,528.20