Question
At what rate are Martin's FICA taxes withheld?
7.5
7.5
Answers
drwls
The rate of FICA withholding is mandated by law, and changes from year to year.
For 2011, it is 5.65%. In 2012, it goes back to 7.75%, up to an annual maximum income that rises every year. That includes a 1.45% Medicare employee contribution.
For 2011, it is 5.65%. In 2012, it goes back to 7.75%, up to an annual maximum income that rises every year. That includes a 1.45% Medicare employee contribution.