Oct. 30, 2015 (All day) For additional semester dates and deadlines visit, the Registrar's office website. More.
FICA taxes aren't usually deductible on your return. The Federal Insurance Contributions Act imposes both a Social Security tax and a Medicare tax on income you earn from working during the year. When you work as an employee, you split the tax with your employer and your employer simply takes it out of your paycheck.hough self-employment taxes include the same taxes -- Social Security and Medicare -- as FICA taxes, they're treated differently on your income taxes. See, when you're self-employed, you pay the equivalent of both the employer and the employee portion of the FICA taxes.
A reference used to indicate the combination of the Social Security tax and the Medicare tax. For the year 2015, the employee's portion of the FICA tax is 7.65% (the Social Security tax of 6.2% plus the Medicare tax of 1.45%) on the first $118,500 of an employee's salary and wages.n an employee's salary and/or wages in excess of $118,500 the employee's portion of the FICA tax is 1.45% (consisting of only the Medicare tax). In addition, certain employees will be subject to a 0.9% Medicare surtax.