Sentences with phrase «additional fica»

An additional FICA tax of 0.9 percent will be imposed for employees whose wages are over $ 250,000 (if employee is married and files a joint return); $ 125,000 (for employees who are married and file separately); or $ 200,000 for all other employees.

Not exact matches

@ybakos the overhead being, of course, the costs of additional bureaucracy (corporate tax return, filings with the State, maintaining records, etc), additional taxes (state corp taxes, payroll taxes that are not part of FICA), and additional operational costs (payroll, mainly).

When your employer makes the contributions for you, your wages are reduced by that amount on your W2, so you end up saving an additional 7 % in FICA taxes.