What percentage is social security taken out of your gross earnings

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What percentage is social security taken out of your gross earnings

On your W-2, 6.2% of your gross wages are withheld for social security taxes. If you are self-employed, social security tax makes up 12.4% of the total 15.3% - self-employment tax is the equivalent of the employer and employee social security taxes.

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What percentage is social security taken out of your gross earnings

On your W-2, 6.2% of your gross wages are withheld for social security taxes. If you are self-employed, social security tax makes up 12.4% of the total 15.3% - self-employment tax is the equivalent of the employer and employee social security taxes.