Percentage Social Security Tax Calculator

Created By : Jatin Gogia

Reviewed By : Rajasekhar Valipishetty

Last Updated : May 22, 2023

Take the help of the online Percentage Social Security Tax Calculator is helpful to compute the amount you have to pay in Social Security based on your salary. You have to give your salary in the specified input box and tap the calculate button to know the immediate results.


Salary:


Employee
Social Security Tax:


Employer
Social Security Tax:


Total
Security Tax:


Percent Social Security Tax Calculator: Compute the social security tax of employees and employers using this free tool. The calculator also gives detailed steps to calculate the social security tax. Check the solved examples and other useful information in the following sections.

What is a Social Security Tax?

Social Security Tax is a mandatory payroll tax paid by both employees and employers. Both employers, as well as employees in the US, have to pay the tax. Social security is one of the two FICA (Federal Insurance Contributions Act) taxes. The self employers need not pay Social Security tax.

The Social Security Administration (SSA) administers the program and uses the tax funds to support widows and widowers, retired individuals, individuals with disabilities, children and survivors of individuals.

How Much is Social Security Tax?

The amount of social security tax is a flat rate of 12.4%. Both employer and employee pay half of the tax. The employer pays 6.2% and the social security employee rax is 6.2%.

 

One has to pay social security up to a limit. If your salary reaches that limit for the year, you no longer have to pay Social Security.

Steps to Calculate Percentage Social Security Tax

The following are the simple steps to calculate the % social security tax of employees and employers.

  • Know the salary of an employee.
  • Multiply the salary by 6.2.
  • Divide the product by 100 to get the social security tax.
  • The social security tax is the same for employees and employers.

Example Questions on Percent Social Security Tax

Example:
Arjun’s annual salary is $30,000. What is his Social Security Tax?
Solution:
Given that,
Annual Salary = $30,000
We know that the social security tax is 6.2% of the salary.
So, Social Security = (30,000 x 6.2)/100
= 1860
Therefore, the social security tax for Arjun and Employer is $1860 and $1860.

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FAQs on Percentage Social Security Tax Calculator

1.   What is the Social Security Limit?
The social security limit is $127,200 in 2017.

2.   How Much is Social Security Income Taxable?
Social security income is taxable for up to 6.2% of the employees and employers.

3.   What is the social security tax percentage?
The social security tax percentage is 6.2%.

4.   How to Use Percentage Social Security Tax Calculator?
Give your salary as input to the calculator and tap on the calculate button to know the social security tax details.