Social Security Tax Calculator
Calculate your Social Security and Medicare taxes (FICA) with current rates and wage base limits for 2024.
Income Information
Tax Calculation
Total FICA Tax
Annual FICA tax liability
Social Security Tax
6.2% on wages up to wage base
Medicare Tax
1.45% on all wages
Additional Medicare Tax
0.9% on wages over threshold
Income Summary
Employer Contribution
Monthly Breakdown
Enter your income information to calculate Social Security taxes
Understanding FICA Taxes
Social Security Tax
Social Security tax funds retirement, disability, and survivor benefits. Both employees and employers pay 6.2% each.
• Rate: 6.2% (employee + employer)
• Wage base: $160,200
• Max tax: $9,932.40
Medicare Tax
Medicare tax funds healthcare for seniors and disabled individuals. No wage base limit applies.
• Rate: 1.45% (employee + employer)
• No wage base limit
• Additional 0.9% over $200K
Self-Employment
Self-employed individuals pay both employee and employer portions (15.3% total) but can deduct half.
• Rate: 15.3% on net earnings
• 50% is tax-deductible
• Same wage base limits apply
2024 FICA Tax Rates & Limits
| Tax Type | Employee Rate | Employer Rate | Wage Base Limit | Maximum Tax |
|---|---|---|---|---|
| Social Security | 6.2% | 6.2% | $160,200 | $9,932.40 |
| Medicare | 1.45% | 1.45% | No limit | No limit |
| Additional Medicare | 0.9% | 0% | $200,000+ | No limit |
| Self-Employment | 15.3% | N/A | Same as above | Same as above |
*Additional Medicare tax applies to wages over $200,000 (single) or $250,000 (married filing jointly)