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Latest revision as of 20:21, 22 September 2024

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What everyone should know as your 'income' tax has a few tax brackets each with its own tax rate from 10% to 35% (2009). These rates are used on your taxable income which is income more than your 'tax free' earnings.

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For my wife, she was paid $54,187, which she transfer pricing is not taxed on for Social Security or Healthcare. She gets to put 14.82% towards her pension by law, making her federal taxable earnings $46,157.

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