The Retirement Analysis Kit Help File

FICA and Medicare Tax

FICA and Medicare Tax

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FICA and Medicare Tax

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This allows for configuring the FICA and Medicare rates for the current employer.

 EmployerTaxFICAMedicare

Note: The FICA and Medicare rates have default system values.  To access them close the Employer File Editor and select Setup/System from the main menu and select Employer in the navigator on the left.

 The best method for employers whose employees do not pay life insurance is to uncheck the FICA taxation in the Visible Fields tab rather than override the FICA value. When it is not visible, the FICA field will not be displayed for the Paycheck values.

 EmployerVisibleFieldsFICA