How do I calculate FICA taxes on a paycheck?

Answer Calculate Medicare TaxMultiply the Medicare tax rate by the amount of your paycheck. As of 2010, the Medicare tax rate equals 1.45 percent for employees. For example, if your paycheck was $2,300, y... Read More »

Top Q&A For: How do I calculate FICA taxes on a paycheck

How do I calculate my taxes due on my paycheck?

It is your employer's responsibility to calculate the taxes due on your paycheck, and withhold them and send them to the appropriate state and federal authorities. You can calculate your payroll ta... Read More »

How Can I Calculate Taxes From My Weekly Paycheck?

When you receive your weekly paycheck, you will likely notice that the amount you receive does not equal the full amount you are paid. This is because federal, state and local governments may requi... Read More »

What does FICA mean on your paycheck?

According to the Social Security Administration, FICA, or the Federal Insurance Contribution Act, describes taxes collected to pay for Social Security benefits. In addition to Social Security, FICA... Read More »

What does FICA-MED on my paycheck deductions stand for?

The abbreviation "FICA" on paychecks stands for Federal Insurance Contributions Act, which is commonly known as the Social Security tax. The abbreviation "MED" stands for Medicare. FICA and Medicar... Read More »