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You are currently viewing 2016 FICA Calculator: Calculate Social Security and Medicare Contributions. Use the Tax Form Calculator to calculate your Federal and State Tax Return. Updated with 2016/2017 tax tables.

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Using the FICA Calculator

FICA stands for Federal Insurance Contributions Act. FICA is a tax which includes Social Security and Medicare payments which are deducted from your salary. FICA is commonly known as a payroll tax as the deductions are based on your income and the deductions appear in your payslip.

FICA is calculated based directly on the amount you earn with contributions made directly by the employee and the employer. Specific percentages are applied for both Medicare and Social Security, these percentages are different for each tax year though they have remain fairly constant for the past 20 years.

When calculating FICA, the Medicare element is calculated against all of your earnings. The Social Security element however is capped at a certain threshold so the amount of Social Security tax you pay is capped. The Maximum amount of Social security you will pay for each tax year is shown in the FICA Thresholds Table. The amount of FICA you pay depends on whether your are an employee or self-employed, we discuss this in more detail later in this page.

To estimate your FICA payment as an employee, employer or if self-employed simply enter you annual salary, select the relevant year and the FICA Calculator will do the rest. You may also like to view a full Federal and State Tax Calculation for $ 0.00 or create your own State Tax Calculation based on your own salary.

FICA Calculator [2016 Tax Tables]

FICA Calculations
Employee Employer
Social Security
Medicare


Sub Total FICA

Total FICA
FICA Thresholds
Employee Employer
Social Security Earnings Threshold
Social Security %
Medicare %


Sub Total FICA %

Total FICA (Max %)
social Security Computed Percentage
Social Security % Paid

Tip: Social Security has a salary threshold. If you earn above this threshold you will only pay social security on the earning below the threshold. As such, the actual amount of social security you pay in as a percentage of your income reduces in real terms. The Social Security Computed percentage in the table is the actual percentage at which you paid Social Security..

Calculate your Social Security and Medicare contributions using our free online FICA Calculator using the 2016 Tax Tables

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How to calculate FICA

As Mentioned Earlier, there are 2 parts to a FICA calculation, Social Security and Medicare both are calculated as a percentage of your income but Social Security contributions are capped at a specific earnings threshold each year.

The amount of FICA you pay depends on your status, lets look at three examples below for an annual salary of $100,000.00. To make things simple to understand we will use fictitious rates for Social security (10%) and Medicare (5%). We will use a Self-Employed factoring rate of 90%, again this is a fictitious amount, the real factoring is used in the FICA Calculator

In our FICA Calculation examples, we will use the following abbreviations:

  1. i = Annual Income
  2. rss = Social Security Rate
  3. thss = Social Security Threshold
  4. rmed = Medicare Rate
  5. rse = Self-Employed rate (factoring used to simulate an employer making FICA contributions on your behalf)

Calculating FICA as an Employee

Fictitious numbers for our FICA Example
Income$100,000.00
Social Security Threshold$90,000.00
Social Security Rate10%
Medicare5%

Employee Social Security = i or thss (whichever is lower) x rss

Using our example numbers: 90000 * 10% = 9000, so the Employee Social Security tax would be $9,000.00 in this instance.

Employee Medicare = i x rmed.

Using our example numbers: 100000 * 5% = 5000, so the Employee Medicare tax would be $5,000.00 in this instance.

Employee FICA = Employee Social Security + Employee Medicare so 9000 + 5000 =14000 so our Employee FICA tax bill in this instance is $14,000.00

Calculating FICA as an Employer

Fictitious numbers for our FICA Example
Income$100,000.00
Social Security Threshold$90,000.00
Social Security Rate10%
Medicare5%

Employer Social Security = i or thss (whichever is lower) x rss

Using our example numbers: 90000 * 10% = 9000, so the Employer Social Security tax would be $9,000.00 in this instance.

Employer Medicare = i x rmed.

Using our example numbers: 100000 * 5% = 5000, so the Employer Medicare tax would be $5,000.00 in this instance.

Employer FICA = Employer Social Security + Employer Medicare so 9000 + 5000 =14000 so our Employer FICA tax bill in this instance is $14,000.00

Calculating FICA when self employed

Fictitious numbers for our FICA Example
Income$100,000.00
Social Security Threshold$90,000.00
Social Security Rate10%
Medicare5%

For the Self-Employed FICA Calculation we first adjust the income by the Self-Employed Rate so i = i x 90%

Self-Employed Socail Security = i or thss (whichever is lower) x rss. In this instance both adjusted income and the threshold are $90,000.00.

Using our example numbers: 90000 * 10% = 9000, so the Self-Employed Social Security tax would be $9,000.00 in this instance.

Self-Employed Medicare = i x rmed.

Using our example numbers: 90000 * 5% = 4500, so the Self-Employed Medicare tax would be $4,500.00 in this instance.

Self-Employed FICA = Self-Employed Social Security + Self-Employed Medicare so 9000 + 4500 = 13500 so our FICA tax bill in this instance is $13,500.00

It is worth noting that Medicare has 2 tiers, the initial rate is applied constantly against your total income. The secondary rate known as Additional Medicare Tax provides an additional tax deduction once your earning exceed a defined threshold. The FICA Calculator allows for the Additional Medicare Rate and will advise if the calculation is included and the additional tax costs associated with the Additional Medicare Tax.

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