The amount taken from Jim's check for FICA taxes is $75.51.
FICA (Federal Insurance Contributions Act) taxes are of two types: Social Security tax and Medicare tax.
FICA taxes simply mean United States federal payroll (or employment) taxes imposed on both employees and employers. The purpose of FICA taxes is to fund Social Security and Medicare.
These two federal programs benefit retirees, the disabled, and the children of deceased workers.
The rate for the Social Security tax is 6.2% of the taxpayer's gross pay.
The rate for the Medicare tax is 1.45% of the income earner's gross pay.
The FICA taxes rate is 7.65%.
Gross pay for the week = $987
FICA taxes = 7.65%
FICA taxes in dollars = $75.51 ($987 x 7.65%)
Thus, the amount Jim paid in FICA taxes is $75.51.
Learn more about FICA taxes at https://brainly.com/question/28022976
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