Learn about FICA taxes, including Social Security and Medicare, and how they impact your paycheck. Understand the current rates and deductions.

For self-employed workers and entrepreneurs, understanding tax obligations is crucial, and the Social Security tax is a significant part of this equation. As we delve into 2025, it's important to be ...

Q: Last year, I started working as a self-employed Web page designer. What must I do to get credit for my income with the IRS and Social Security? A: You report your net earnings for Social Security ...

If you’re self-employed, you already wear many hats—owner, operator, and maybe even accountant. But one critical role you may not think about as often is that of your own payroll department. Unlike ...

Individual taxable earnings of up to $184,500 annually will be subject to Social Security tax in 2026, the Social Security Administration (SSA) said Friday. The amount, an increase from $176,100 in ...

Social Security taxes are calculated in a different manner than federal and state income taxes. In some ways, the process is much less complicated -- for example, there are no Social Security tax ...

If you are not self-employed, Social Security taxes are typically taken out of your paycheck automatically. You and your employer each pay a 6.2 percent Social Security tax on up to $132,900 of your ...