Difference between revisions of "Annual Taxes - Humor In The Drudgery"

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Revision as of 15:43, 22 September 2024

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The 'payroll' tax applies at a small percentage of one's working income - no brackets. The employee, you pay 6.2% of your working income for Social Security (only up to $106,800 income) and sole.45% of it for Medicare (no limit). Together they take additional 7.65% of one's income. There is no tax threshold (or tax free) degree of income for this system.

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