You may find your job fulfilling, but at the end of the day, you work to earn a living. That income provides a roof over your head and food on your table. Discover More: Salary Needed To Achieve ...

For example, if an employee earns $2,000 in a pay period, multiply $2,000 by 6.2 percent to determine the employee's Social Security tax, which is $124. Multiply $2,000 by 1.45 percent to ...

Multiply the total payroll figure by 0.062 for the Social Security liability. You are only required to contribute Social Security tax up to the first $106,800 of each employee's earnings as of 2011.