ating Gross Pay & Deductions Part 1 of 3 Tom Hanson, single, has cumulative earnings before this biweekly pay period of $126,000. If he is paid $1,930 this period, what will his deductions be for FIT and FICA (Social Security K and Medicare? The FICA Social Security tax rate is 6.2% on $142,800 and Medicare is 1.45% on all earnings. (Round to the nearest cent as needed. X.XXX) View the biweekly payroll period percentage method withholding chart