Paying Taxes Can Tax The Best Of Us: Difference between revisions
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Revision as of 13:03, 23 October 2024
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For his 'payroll' tax as an employee he pays 7.65% of his $80,000 which is $6,120. His employer, though, must pay for the same 2011 energy tax credits.65% - another $6,120. So one of the employee with his employer, the fed gets 15.3% of his $80,000 which in order to $12,240. Note that an employee costs a company his income plus 7.65% more.
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