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Social Studies glossary

FICA

the Social Security (6.2%) and Medicare (1.45%) taxes taken out of wages; employers pay a matching amount.

Example

On a $1,000 paycheck, FICA takes $62 for Social Security and $14.50 for Medicare.

In Spanish

FICA — los impuestos del Seguro Social (6.2%) y de Medicare (1.45%) que se descuentan del salario; los empleadores pagan una cantidad igual.

En un cheque de $1,000, el FICA descuenta $62 para el Seguro Social y $14.50 para Medicare.

Related words

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