What is the Social Security tax rate?

Question

What is the current Social Security tax rate for U.S. employees and employers? I’d like to understand how Social Security taxes are calculated and how they appear on a paycheck.

Harry · Answer

Social Security tax rates can vary by year and apply under federal payroll rules. Employers and employees generally share the tax, while self-employed individuals handle both portions for covered wages.

Kevin · Answer

In America, the tax on Social Security is 6.2% for workers and 6.2% for employers, totaling 12.4%. Self-employed people usually pay 12.4%. The tax is applied only to income below the annual limit of the Social Security wage base.

Answers