Can You Pay Your Social Security and Medicare Insurance?

07 Jun

The federal government charges FICA, which stands for Federal Insurance Contributions Act. You’ve surely seen FICA tax deducted from your paychecks. You’ve actually seen only half of your FICA tax. Your employer pays the other half. FICA is typically 15.3% of your earnings. You pay 7.65% every payday and your employer pays the other 7.65%. From Escape the Cubicle


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