Payroll Tax Calculator
Calculate employer and employee payroll taxes including Social Security, Medicare, FUTA, and state unemployment.
See the true cost of an employee.
Payroll Tax Breakdown
Payroll Tax Components (US, 2024):
Employee’s share:
- Social Security: 6.2% (on first $168,600)
- Medicare: 1.45% (no limit)
- Additional Medicare: 0.9% (on wages over $200,000)
Employer’s share (matching):
- Social Security: 6.2% (on first $168,600)
- Medicare: 1.45% (no limit)
- FUTA (Federal Unemployment): 0.6% (on first $7,000)
Total FICA rate: 15.3% (7.65% each for employer and employee)
True cost of an employee: An employee earning $60,000 actually costs the employer about $64,590 — the extra $4,590 is the employer’s share of payroll taxes.