How much does FICA take out of checks?
Federal Insurance Contributions Act(FICA) 12.4% of earned income up to an annual limit must be paid into Social Security, and an additional 2.9% must be paid into Medicare. That limit is $106,800 for 2010. If you're a wage or salaried employee, you pay only half the FICA bill (6.2% for Social Security plus 1.45% for Medicare) Your employer contributes the other half.
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