For married joint filers, the income threshold is $250,000. 2024 FICA tax rates and limits Here's a breakdown of the FICA tax rates and limits for the 2024 tax year: The vast majority of people wo ...

Social Security Tax (FICA) Definition: A tax paid by workers and employers on wages earned that supports the benefit programs under the Social Security System The Federal Insurance Contributions ...

Here’s a breakdown of FICA taxes: Social Security tax: Both you and your employer contribute 6.2 percent of your wages up to a capped amount called the taxable maximum ($168,600 in 2024).