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Understanding FICA and the FICA Tax Rate

Businesses of all sizes and every field should have a basic understanding of FICA. This tax, composed of two separate contributions, is deducted from employee payroll and paid to the relevant federal agencies. Without FICA, essential public services would fail to perform their functio
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Find the Perfect Louisiana Payroll Calculator Software

Payroll is an important but often-overlooked part of every business. Making accurate payroll and withholding calculations is necessary for precise quarterly and end-of-year reporting and, for some small businesses, just a few incorrect calculations can put you in the red. This is espe
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Federal Tax Software for Small Businesses

Let’s start with the basics: The W2/1099 Forms Filer is the base program for all of the federal tax software available from Advanced Micro Solutions. This platform enables our clients to fill out their forms on a screen that resembles the form itself. Between the default/define comman
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FICA and how to calculate

FICA is composed of two taxes: Social Security and Medicare. Social Security Social Security is calculated by multiplying an employee’s taxable wages by 6.2%. For example, if an employee’s taxable wages are $600 this week: $600.00 x 6.2% = $37.20 (this amount would be deducted from th
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FICA Withholding Rates for 2019

FICA withholding rates have not changed from 2013; the only difference is that the maximum wage subject to Social Security tax has increased to $132,900 for 2019. The rates for 2019: Employee/Employer rate for Social Security ($132,900 max subject wages): 6.2% Employee/Employer rate f
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