Annual Taxes - Humor In The Drudgery: Difference between revisions
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Latest revision as of 08:55, 12 November 2024
Note: The author is actually a CPA or tax commercial. This article is for general information purposes, and need to not be construed as tax professional guidance. Readers are strongly encouraged to consult their tax professional regarding their personal tax situation.
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The 'payroll' tax applies at a hard and fast percentage of your working income - no brackets. A good employee, you won't 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 an additional 7.65% of your income. There is no tax threshold (or tax free) regarding bokep income in this system.
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