FICA is an acronym, and what it stands for relates to payroll taxes. Here's how much gets taken out of your paycheck and ...

President Donald Trump took a victory lap in Las Vegas on Saturday, basking both in his presidential victory in Nevada last ...

There are other tax changes happening next year that could put more money in your paycheck. If you collect Social Security, you'll receive a 2.5% cost-of-living-adjustment in 2025. The Earned Income ...

These adjustments, announced by the IRS in October 2024, reflect an approximately 2.8 percent increase in income thresholds ...

What is FICA?: How much you contribute to federal payroll taxes There is a limit to how much of your wages can be subject to OASDI taxes – it's called taxable maximum. The taxable maximum for ...

During his first stint in office, Trump massively overhauled the tax code by passing the Tax Cuts and Jobs Act (TCJA) of 2017. Now, many of those tax provisions are set to expire at the end of 2025, ...

Employment taxes include federal income tax withholding and taxes ... Then, there is the Medicare tax. The Medicare payroll tax funds the Medicare program, which provides health insurance for ...

Trump had previously suggested he would eliminate federal income and payroll taxes on tips. But questions remain on how that would work and whether it would be possible to eliminate both those taxes.

This guide will help you understand the process; it will also make managing payroll taxes more straightforward and help you stay compliant. As an employer, you must report your business’s taxable ...