Social Security Taxes

Accounting Terms Dictionary

Select a letter below to view all accounting terms that begin with that letter.

Social Security Taxes

Social security taxes are composed of two taxes. 6.2% of employee’s earnings is paid by employees. An additional 6.2% is paid by employers. There is a yearly maximum on social security taxes which is adjusted yearly for inflation.

If John made $100, $6.20 would be taken out his pay and sent to the social security administration. His employer would match it with an additional $6.20.

There is currently no content classified with this term.

Get instant access to step-by-step instructions on how to apply and sit for the CPA Exam.

Expected or Past Undergrad Graduation Date*

When Do You Plan to Start Studying?