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 Quarterly Federal Tax Return. The FICA tax rate (for both the employer and the employee) is 6.2% and the wage base is $97,500 for 2007 and $102,000 for 2008. The Medicare tax rate (for both the employer and the employee) is 1.45%; all wages are subject to the tax. Household Employers. Report FICA and Medicare taxes and income tax withholding on wages paid to household employees on your individual income tax return.