Fica Tax Rate 2024 Self Employed . What is the 2024 fica tax rate for the self employed individual in the u.s.? This rate covers both social security and medicare taxes.
Itโs made up of 12.4% for social security and 2.9% for medicare. This is how it breaks down:
Fica Tax Rate 2024 Self Employed Images References :
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Fica Tax Rate 2024 , For 2024, the fica tax rate for employers will be 7.65% โ 6.2% for social security and 1.45% for medicare (the same as in 2023).
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