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Income Tax Planning
Chapter 3: Fundamentals of Income Tax/FICA
Warren Academy Course SyllabusSyllabus Slides
Chapter Study Session

Chapter 3: Fundamentals of Income Tax

FICA

01.Core Concepts

• Federal Insurance Contribution Act • Provides for old age, survivors, disability and hospital insurance • Social Security wage base limit is $184,500 (2026).  12.4% total (6.2% to employee and 6.2% match by employer) • Medicare tax not subject to wage base limit.  2.9% total (1.45% to employee and 1.45% match by employer)