Riva Verine

Fica And Medicare Rates 2024. For both of them, the current social security and medicare tax rates are 6.2% and 1.45%, respectively. For 2024, the fica tax rate for both employers and employees is 7.65% (6.2% for oasdi and 1.45% for medicare).

You can calculate your fica taxes by multiplying your gross wages by the current social security and medicare tax rates. Social security taxes are the 6.2% taken out of your paycheck each month (up to $168,600, the 2024 taxable maximum) while fica refers to the combination of.