The Federal Insurance Contributions Act is a type of income tax that contributes to Social Security and Medicare in the United States. As of 2015, FICA stipulates that 12.4 percent of earned income is paid into Social Security, and an additional 2.9 percent is paid into Medicare.
Employees only pay 6.2 percent of the 12.4 percent paid into Social Security and 1.45 percent paid into Medicare. The employer pays the remaining 7.65 percent. Unlike the earned income paid into Social Security, which is currently capped at $118,500, there are no earned income limits on Medicare taxes. This means if an employee's salary is greater than $118,500, he still owes the full 1.45 percent Medicare tax on his total earned income.Learn More
According to the 2012 Bureau of Labor Statistics, the average median salary of an architect is $73,090 per year, or $35.14 per hour. The top 10 percent of the profession make about $118,230 per year, the bottom 10 percent make $44,600 per year. The middle 50 percent of architects make a salary that ranges between $53,480 and $91,870 per year. The average annual salary for architects varies greatly depending upon education, skill, levels of experience and location.Full Answer >
According to the Bureau of Labor Statistics, veterinary technicians make a median wage of $30,290 per year, or $14.56 an hour, as of May 2012. Those technicians who work at higher-education institutions and for the state earn a median wage of $37,190.Full Answer >
The basic pay of a marine does not increase after he is married; however, benefits do extend to a married marine and his spouse. These benefits include a tax-free housing allowance and medical care, as reported by About.com.Full Answer >
According to the U.S. Bureau of Labor Statistics, the average median salary for an astronomer in 2012 was $96,460 per year. Individual astronomer salaries vary depending on geographic location, education, experience and employment sector.Full Answer >