4 ms·
But it's not; For an employee, the employer is paying 1/2 of it and the employee is paying half of it; At best, if we discount fungibility of salaries/costs for
by smileysteve 8y ago
But it's not; For an employee, the employer is paying 1/2 of it and the employee is paying half of it; At best, if we discount fungibility of salaries/costs for market salaries; it's an additional 7.5%
- gamblor956 8y agoWhen you're a 1099 contractor (i.e., self-employed), you pay all of FICA yourself because you are both the employee and the employee.
- smileysteve 8y agoYes, but that's only if you discount that whether the employer or employee pays for it as a fungible difference. If it wasn't setup as the employer paying for 1/2 of it, do you not think that most workers would want to be paid 7.5% more to pay it?