Paycheck calculator mobile11/30/2023 ![]() ![]() Your employer also withholds money to pre-pay your federal income taxes. Together, these taxes make up what are called FICA taxes. Any earnings over $200,000 are subject to a 0.9% Medicare surtax (your employer doesn’t match this). Your employer also matches those contributions so that the total contributions are double what you pay. ![]() These include the 6.2% for Social Security taxes and the 1.45% for Medicare taxes that your employer withholds from your earnings each pay period. ![]() If you’ve had an on-the-books job before, you’re probably familiar with the basics of payroll taxes.
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