Calculate Fica

FICA Tax Calculator

Use this calculator to estimate your employee portion of FICA taxes (Social Security and Medicare) based on your annual gross income.

(This limit changes annually. For 2024, it's $168,600)

(For single filers. Varies by filing status.)

function calculateFICA() { var annualGrossIncome = parseFloat(document.getElementById("annualGrossIncome").value); var ssWageBaseLimit = parseFloat(document.getElementById("ssWageBaseLimit").value); var addMedicareThreshold = parseFloat(document.getElementById("addMedicareThreshold").value); // Validate inputs if (isNaN(annualGrossIncome) || annualGrossIncome < 0) { alert("Please enter a valid Annual Gross Income."); return; } if (isNaN(ssWageBaseLimit) || ssWageBaseLimit < 0) { alert("Please enter a valid Social Security Wage Base Limit."); return; } if (isNaN(addMedicareThreshold) || addMedicareThreshold addMedicareThreshold) { var taxableAdditionalMedicareIncome = annualGrossIncome – addMedicareThreshold; additionalMedicareTax = taxableAdditionalMedicareIncome * additionalMedicareRate; } var totalFicaTax = socialSecurityTax + medicareTax + additionalMedicareTax; document.getElementById("socialSecurityTaxResult").textContent = "$" + socialSecurityTax.toFixed(2); document.getElementById("medicareTaxResult").textContent = "$" + medicareTax.toFixed(2); document.getElementById("additionalMedicareTaxResult").textContent = "$" + additionalMedicareTax.toFixed(2); document.getElementById("totalFicaTaxResult").textContent = "$" + totalFicaTax.toFixed(2); } // Run calculation on page load with default values window.onload = calculateFICA;

Understanding FICA Taxes

FICA stands for the Federal Insurance Contributions Act. It's a U.S. federal payroll tax imposed on both employees and employers to fund Social Security and Medicare programs. These programs provide benefits for retirees, the disabled, and children of deceased workers (Social Security) and health insurance for individuals aged 65 or older, younger people with disabilities, and people with End-Stage Renal Disease (Medicare).

Components of FICA Tax

FICA tax is comprised of two main parts:

1. Social Security Tax: This portion funds retirement, disability, and survivor benefits. For employees, the rate is 6.2% of your gross wages. However, there's an annual wage base limit. Any earnings above this limit are not subject to Social Security tax. This limit changes annually; for example, in 2024, it is $168,600.
2. Medicare Tax: This portion funds hospital insurance. For employees, the rate 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

Since 2013, an Additional Medicare Tax of 0.9% applies to earned income above certain thresholds. These thresholds depend on your tax filing status:

• $200,000 for single, head of household, or qualifying widow(er) filers.
• $250,000 for married filing jointly.
• $125,000 for married filing separately.

This additional tax is only imposed on the employee's portion of Medicare tax and is not matched by the employer.

Employee vs. Employer Contributions

Both employees and employers contribute to FICA. The rates mentioned above (6.2% for Social Security and 1.45% for Medicare) are the employee's share. Employers pay an equal matching amount, meaning the total contribution to Social Security is 12.4% (6.2% employee + 6.2% employer) and to Medicare is 2.9% (1.45% employee + 1.45% employer).

How to Use the Calculator

To use this FICA Tax Calculator:

1. Annual Gross Income: Enter your total annual earnings before any deductions.
2. Social Security Wage Base Limit: Input the current year's Social Security wage base limit. This calculator pre-fills it with the 2024 value, but you should verify it for your specific tax year.
3. Additional Medicare Tax Threshold: Enter the threshold relevant to your tax filing status. The calculator pre-fills it with the single filer threshold.
4. Click "Calculate FICA Tax" to see your estimated employee contributions for Social Security, Medicare, Additional Medicare Tax, and your total FICA tax.

Example Calculation

Let's consider an individual with an annual gross income of $80,000 in a year where the Social Security wage base limit is $168,600 and the Additional Medicare Tax threshold is $200,000 (for a single filer).

• Social Security Tax: Since $80,000 is less than the $168,600 wage base limit, the full $80,000 is subject to Social Security tax.
  $80,000 * 0.062 = $4,960.00
• Medicare Tax: All $80,000 is subject to Medicare tax.
  $80,000 * 0.0145 = $1,160.00
• Additional Medicare Tax: Since $80,000 is below the $200,000 threshold, no additional Medicare tax applies.
  $0.00
• Total FICA Tax: $4,960.00 (SS) + $1,160.00 (Medicare) + $0.00 (Add. Medicare) = $6,120.00

If the same individual earned $220,000:

• Social Security Tax: Since $220,000 is greater than the $168,600 wage base limit, only $168,600 is subject to Social Security tax.
  $168,600 * 0.062 = $10,453.20
• Medicare Tax: All $220,000 is subject to Medicare tax.
  $220,000 * 0.0145 = $3,190.00
• Additional Medicare Tax: Since $220,000 is above the $200,000 threshold, $20,000 ($220,000 – $200,000) is subject to additional Medicare tax.
  $20,000 * 0.009 = $180.00
• Total FICA Tax: $10,453.20 (SS) + $3,190.00 (Medicare) + $180.00 (Add. Medicare) = $13,823.20

Important Considerations

This calculator provides an estimate of your employee FICA tax liability. It does not account for self-employment taxes (which include both employee and employer portions of FICA), state or local taxes, or other federal income tax withholdings. Always consult with a tax professional for personalized advice.