Social Security Tax Archive

What States Tax Social Security

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Even the best retirement plans sometimes fail to consider what states tax Social Security retirement benefits. As of 2016, your Social Security retirement benefits are taxed in 13 out of 50 states. Where you live can affect how much you have to live on. According to Social Security, the

What is Social Security Tax

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Many employers and employees ask, “What is Social Security tax?” Over the years, the Social Security tax rate on both employer and employee income has changed. Although the Social Security tax rate changed each year from 2008 to 2015, the rate didn’t change from 2015 to 2016. Social Security

What is FICA Tax

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Most employees in the United States ask “What is FICA tax?” when reviewing paycheck deductions. Taxes taken out for Social Security and Medicare make up most of the Federal Insurance Contributions Act (FICA). Most employer businesses, self-employed persons, and employees are required to pay FICA tax. The Internal Revenue