Yes, double that. I was clarifying exactly what FICA was for the previous poster. Also as others have pointed out, unless you are a 1099 employee or business owner that pays yourself wages, you will see a 7.65% savings unless/until YTD gross pay hits $137,700 before year-end, in which case the Soc Security portion (6.2%) is waived.
Yes, double that. I was clarifying exactly what FICA was for the previous poster. Also as others have pointed out, unless you are a 1099 employee or business owner that pays yourself wages, you will see a 7.65% savings unless/until YTD gross pay hits $137,700 before year-end, in which case the Soc Security portion (6.2%) is waived.