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Revision as of 03:46, 12 November 2024

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If you claim 5 personal exemptions, your taxable income is reduced another $15 thousand to $23,500. Your earnings tax bill is only going to be approximately 3300 dollars.

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10% (8.55% for healthcare and a.45% Medicare to General Revenue) for my employer and me is $15,612.80 ($7,806.40 each), and less than both currently pay now ($1,131.93 $7,887.10 = $9,019.03 my share and $1,131.93 $8,994 = $10,125.93 my employer's share). For my wife's employer and her is $6,204.41 ($785.71 my wife's share and $785.71 $4,632.99 = $5,418.70 her employer's share). Decreasing the amount right down to a couple of.5% (2.05% healthcare 1.45% Medicare) contribution everyone for transfer pricing a full of 7% for lower income workers should make it affordable for both workers and employers.

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