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.
The FICA tax consists of both Social Security and Medicare taxes. Social Security and Medicare taxes are paid both by the employees and the employer. Both parties pay half of these taxes. Employees pay half, and employers pay the other half. Together both halves of the FICA taxes add up to 15.3%.