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.
Employer's Payroll Expenses. Employers are also required to pay Social Security and Medicare taxes based on their total payroll. The total employer and employee payroll taxes are also called FICA taxes, because they are requirements under the Federal Insurance Contributions Act.The employer is also required to remit unemployment tax payments under the Federal Unemployment Tax Act (FUTA). There is no equivalent employee portion of FUTA.mployer's Payroll Expenses. Employers are also required to pay Social Security and Medicare taxes based on their total payroll. The total employer and employee payroll taxes are also called FICA taxes, because they are requirements under the Federal Insurance Contributions Act.