I'm trying to guesstimate how much my federal income tax return might be. When using a tax estimator, it asks for the federal income tax amount withheld. Is FICA included in that?
2007-11-06 01:21:32 · 0 answers · asked by Amber 1 in Business & Finance ➔ Taxes ➔ United States
FICA is a combination of the social security tax and medicare tax and totals about 7.65% of your gross pay.
FICA has absolutely nothing to do with your federal income tax rate. Your federal income tax rate is dependent on which tax bracket you fall into.
The following tax calculator may help.
2007-11-06 01:28:41 · answer #1 · answered by libaki 4 · 3⤊ 0⤋
For a full explanation of F.I.C.A., go to the following webpage
http://www.ssa.gov/mystatement/fica.htm
This is what you're paying into Social Security for when you retire, become disabled or die and leave survivors.
The federal tax you pay is completely separate from the ss tax.
Social Security employee, US Govt bureaucracy expert 18+ years
2007-11-06 01:31:40 · answer #2 · answered by Phurface 6 · 0⤊ 0⤋
No FICA is different from income tax, so don't include that.
2007-11-06 02:20:36 · answer #3 · answered by Judy 7 · 0⤊ 0⤋
No, it is a separate tax that is not refunded.
2007-11-06 01:30:40 · answer #4 · answered by Wayne Z 7 · 0⤊ 0⤋
No. They are different.
2007-11-06 01:24:32 · answer #5 · answered by Anonymous · 0⤊ 0⤋