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.
Generally, an S corporation can deduct as a business expense the cost of a vehicle provided to an employee. The employee is taxed on the value of the vehicle provided, multiplied by the personal-use percentage. The value is considered additional wages to the employee on which income, but not FICA, taxes are due. If the employee only uses the vehicle to commute from home to work, 100 percent of the value is includible in his wages.