A Status For Taxes - Part 1: Difference between revisions
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Latest revision as of 14:33, 23 January 2025
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The 'payroll' tax applies at a constant percentage of your working income - no brackets. With regard to employee, get yourself a 6.2% of your working income for Social Security (only up to $106,800 income) and specific.45% of it for Medicare (no limit). Together they take an additional transfer pricing 7.65% of your income. There is no tax threshold (or tax free) degree of income in this system.
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