![]() ![]() Your employer matches those amounts so the total contribution is doubled. You pay 1.45% of your wages in Medicare taxes and 6.2% in Social Security taxes (combined, these make up FICA taxes). Your actual paycheck is less than that because your employer withholds taxes from each of your paychecks.įor starters, your employer will withhold federal income and FICA taxes from your paycheck. ![]() That’s because you can’t simply divide your annual salary by 52 to determine your weekly wages. When you received your first paycheck from your first job, it may have been considerably lower than you were expecting based on the salary you were quoted. Number of cities with local income taxes: 0 (some cities and counties levy local taxes on interest and dividends). ![]()
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