Are FICA taxes the same as Social Security taxes? Partially, as FICA taxes include Social Security taxes and Medicare taxes. Do you pay FICA taxes if you’re self-employed? Yes, but it's called the Self-Employed Tax and is governed by SECA instead of FICA. The rates and calculations und...
To also avoid NIIT, an owner generally must ``mate- rially participate'' in the trade or business activity, which might be at odds with a SECA classification as a ``limited partner.'' There is a narrow avenue where an ``active'' owner may avoid all ...
FICA and SECA taxes do not fundSupplemental Security Income (SSI)benefits, even though that particular program is run by theSocial Security Administration (SSA). SSI benefits come out of general tax revenues.13 How to Calculate FICA Example 1 An employee earning $50,000 will pay $3,825 in ...