What is FICA? Social security and medicare make up the taxes known as Federal Insurance Contributions Act (or FICA). In this article, we’ll give the low-down on FICA for 2016, including current tax rates and when/how to send payments.
If you’re looking for an easier way to manage employment taxes, we recommend Gusto payroll software (formerly ZenPayroll). In addition to running payroll with direct deposit, Gusto calculates, files and e-pays FICA and other payroll taxes on your behalf. So you don’t have to worry about running any calculations, filling out any forms or missing any deadlines.
