The Social Security tax rate is 12.4% of the employee’s gross income, up to a certain income limit. This limit, known as the wage base limit, changes yearly based on inflation and is $168,600 in 2024.

*Refers to the latest 2 years of stltoday.com stories. Cancel anytime. Employees at U.S. businesses are required to pay what are known as FICA taxes, often referred to as payroll taxes. Your FICA ...

Net pay is the amount of money employees earn after payroll deductions are taken away from gross pay. These includes taxes, benefits, wage garnishments and other deductions. In simple terms, net pay ...

Learn how imputed income impacts your business and how to calculate the taxes you must pay on it so you stay compliant. Let’s say you paid an employee $60,000 last year and calculated their federal ...

Employees at U.S. businesses are required to pay what are known as FICA taxes, often referred to as payroll taxes. Your FICA taxes impact your final net pay and are determined by the amount of your ...