Social Security and Medicare Tax Explained | FICA Taxes
In this video, we'll discuss the Social Security and Medicare tax (aka FICA taxes) in detail. We'll cover a brief history of these taxes, how they work, and if you can do anything to lower how much you owe.
If you're curious about how the Social Security and Medicare tax works, then this video is for you! We'll explain everything you need to know about the tax in simple language, so you can understand it completely. Thanks for watching!
0:00 The Second Largest Tax You Pay
0:38 A Brief History of FICA Taxes
1:44 Social Security Tax Breakdown
2:06 Medicare Tax Breakdown
2:50 The Other Half of the Tax
3:59 How to Pay Less
#socialsecurity #taxes #medicare
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