Payroll Tax Calculator
Calculate Social Security, Medicare, and unemployment taxes for employers and employees
About this calculator
The Payroll Tax Calculator helps employers and employees accurately calculate federal payroll taxes including Social Security (6.2%), Medicare (1.45%), and unemployment taxes (FUTA). This essential tool ensures compliance with IRS requirements while helping businesses budget for total employment costs and employees understand their tax withholdings. Whether you're processing payroll, planning hiring costs, or reviewing your pay stub, this calculator provides precise calculations based on current tax rates and wage limits.
How to use
Enter the employee's gross wages for the pay period and select the pay frequency (weekly, bi-weekly, monthly, etc.). The calculator will automatically compute Social Security tax, Medicare tax, and applicable unemployment taxes for both employee and employer portions. Review the detailed breakdown to understand total payroll tax obligations.
Frequently asked questions
What is the current Social Security tax rate?
The Social Security tax rate is 6.2% each for employees and employers, applied to wages up to the annual wage base limit.
Are there wage limits for payroll taxes?
Yes, Social Security tax applies only to wages up to $160,200 (2023 limit), while Medicare tax applies to all wages with no limit.
What is the additional Medicare tax?
High earners pay an additional 0.9% Medicare tax on wages exceeding $200,000 (single) or $250,000 (married filing jointly).