Difference between revisions of "10 Tax Tips Limit Costs And Increase Income"

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Latest revision as of 08:22, 5 October 2024

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The 'payroll' tax applies at a hard percentage of one's working income - no brackets. Regarding employee, you pay 6.2% of the working income for Social Security (only up to $106,800 income) and a person specific.45% of it for Medicare (no limit). Together they take even more 7.65% of one's income. There's no tax threshold (or tax free) regarding income to do this system.

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