Write-In Candidates running for President in 2016. List Of candidates running for the office of the President Of The United States who have filed Form 2 with the Federal Election Commission. Each individual who is a candidate for federal office must file an FEC Form 2 within 15 days of becoming a candidate.
How the Social Security payroll tax works now. The Social Security payroll tax rate is currently 6.2%, although it's not quite that simple. First of all, not all wages are subject to Social Security tax. As of 2016, only the first $118,500 is used to calculate Social Security tax -- anything above that amount is ignored. In other words, a worker who earns $118,500 per year pays the same Social Security tax as a worker who earns $1,000,000.
FICA taxes consist of Social Security tax and Medicare tax. In 2012, the FICA tax rate is 5.65 percent, which breaks down to 4.2 percent for Social Security and 1.45 percent for Medicare.Employers calculate the FICA tax using your gross pay.There is an annual wage limit for Social Security tax. In 2012, the wage limit is $110,800.n this case, the Social Security tax calculation is 4.2 percent multiplied by $1,788.54, which works out to be $75.12. The Medicare tax portion is $25.93, or 1.45 percent multiplied by $1,788.54. Your total FICA taxes are $101.05.