How much of my paycheck is FICA going to take from my paycheck?
The Federal Insurance Contributions Act deducts 15.3% from your paycheck. This deduction consists of Social Security and Medicare taxes, which are paid by both the employer and employee. You can read more on this, at http://taxes.about.com/od/payroll/qt/payroll_basics.htm.
More than you want.
It's around a 2% increase I believe. Not sure on the exact figure. It's not a lot
7.65% will cover both your social security contribution (6.2%) and your Medicare contribution (1.45%)The other 7.65% is paid by your employer. If you're self employed like me, you get to pay it all!