Deltek Vantagepoint Help

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FICA (OASDI) Social Security Tax

Vantagepoint calculates the Social Security old age, survivors, and disability insurance (OASDI) tax based on the employee's gross wages.

How Vantagepoint Calculates Tax

To calculate an employee's Social Security tax, Vantagepoint does the following:

  1. Subtracts any 125/Cafeteria Plan contributions from the employee's gross wages.
  2. Multiplies the resulting amount by 6.2% to a maximum wages amount of $137,700 (2020 tax year) to determine the employer’s Social Security liability. The resulting amount (to a maximum wages amount of $137,700 in the 2020 tax year) is also multiplied by 6.2% to determine the employee’s Social Security liability.

Employer FICA amounts are calculated in each payroll run and posted as part of a combined FICA liability, but are not stored as a separately reportable value.

Vantagepoint takes a flat withholding percentage of the taxable wages for the employer FICA-OASDI when the withholding is set to System and is Active. This employer liability is not annualized. As a result, there will be a rounding difference between the payroll deductions and the 941 liability for the employer liability. When the FICA-OASDI withholding is not set to System or is inactivated, no employer portion is posted. The 941 report always reflects the 6.2% liability owed, regardless of withholding method.