The Social Security tax is 6.2 percent and the Medicare tax is 1.45 percent of your annual income How much would you pay per year to FICA if your annual earnings were 47000?
Adding the Medicare tax of 1.45% and the Social Security Tax of 6.2% together, the total is 7.65%. 7.65% of $47,000 is $3,595.50 that you would pay each year.
