On your paycheck, are the FICA-MED and FICA-OASDI combined my total Social Security deductions?

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On your paycheck, are the FICA-MED and FICA-OASDI combined my total Social Security deductions?

2007-02-28 08:31:45 · 2 answers · asked by mf796 2 in Local Businesses ➔ United States ➔ Dallas

2 answers

FICA- MED (1.45%)is medicare and FICA-OASDI (6.2%) is Social Security.

2007-02-28 08:40:51 · answer #1 · answered by Amy V 4 · 0⤊ 0⤋

FICA OASDI
FICA Old Age Survivors and Disability Insurance. FICA OASDI is calculated as your gross earnings times 6.2%. Please note that this calculator does not make any assumptions as to the total FICA OASDI paid for the current year. For 2007, incomes over $97,500 that have already had the maximum FICA OASDI amount of $6045.00 withheld will not have additional FICA OASDI withholdings.

2007-03-01 04:19:51 · answer #2 · answered by SilentMoon 1 · 0⤊ 0⤋