EP 14: What is English for “FICA” Taxes?
Translating financial and tax Legalese into English in 10 minutes or less. In today's episode, we'll explain payroll taxes.
We'll describe the what, the why, and, more importantly, what you need to know. We'll answer the question, "What are FICA taxes?".
We'll also discuss how these payroll taxes affect workers on nonimmigrant work visas. Depending on whether you are a nonresident for tax purposes, you may be exempt from FICA taxes.
We finally touch on totalization agreements for US tax residents overseas.
The speakers' views and opinions discussed in this episode, should not be considered financial, tax, or legal advice. Consult your advisor for any legal, cross-border tax, and financial advice.
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