Question

How much do you owe in social security and medicare tax (FICA) on a $65,000 salary?

For the above problem, how much do you owe in FICA taxes if you are self-employed?

Answer 1

If you earn a $65,000 salary, you would owe approximately $5,772.50 in FICA taxes.

As a self-employed individual on a $65,000 salary, you would owe $9,945.00 in FICA taxes.