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What is the Social Security tax rate?
Social Security taxes in 2026 are 6.2 percent of gross wages up to $184,500. Thus, the most an individual employee can pay this year is $11,439. Most workers pay their share through FICA (Federal Insurance Contributions Act) taxes withheld from their paychecks. The contributions are matched by their employers.
People who are self-employed cover both shares — that is, 12.4 percent of their net earnings — in the form of SECA (Self-Employment Contributions Act) taxes, paid through federal tax returns. Their higher burden is partially offset by a law that allows them to take half of what they pay in Social Security taxes as an income tax deduction.
More Ways to Benefit
- Related Benefit 1
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- Related Benefit 4
- Related Benefit 5
Keep in mind
FICA taxes also fund Medicare, with you and your employer both contributing 1.45 percent of your gross earnings. There’s no income maximum there; you pay Medicare taxes on every dollar you earn. Again, people who work for themselves pay both shares, or 2.9 percent of their net income from self-employment.
More on Social Security
Social Security Survivor Benefits Explained
FICA Taxes While Working and Collecting Benefits