How much FICA tax will I pay?

Social Security and Medicare contributions depend on employment status.

The Federal Insurance Contributions Act (FICA) imposes a tax to fund Social Security and Medicare. If you work for someone else, you and your employer pay 6.2% on the first $106,800 of your covered wages for Social Security, plus 1.45% of all your wages for Medicare. If you're self-employed, you pay 12.4% and 2.9% on those earnings, but you can deduct half the amount on your tax return. Use this calculator to estimate your FICA taxes.