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Revision as of 17:34, 5 October 2024
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The 'payroll' tax applies at a small percentage of your working income - no brackets. As an employee, you pay 6.2% of one's working income for Social Security (only up to $106,800 income) and 1.45% of it for Medicare (no limit). Together they take an additional 7.65% of the income. There's no tax threshold (or tax free) amount of income in this system.
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