Answer:
So each party – employee and employer – pays 7.65% of their income, for a total FICA contribution of 15.3%. To calculate your FICA tax burden, you can multiply your gross pay by 7.65%:
BUT EACH FICA TAX IS 6.2% Social security and 1.45% respectively
The reason it says 7.65 because it also depends on where you live, but it should be around the 7.65 to 7.9 mark
