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Revision as of 12:18, 23 October 2024

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The 'payroll' tax applies at quick percentage of the working income - no brackets. Regarding employee, you won't 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 a lot more 7.65% of your income. There's no tax threshold (or tax free) degree of income in this system.

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Copyright 2010 by RioneX IP Group LLC. All rights lined up. This material may be freely copied and distributed subject to inclusion of this copyright notice, author information and all the hyperlinks are kept intact.

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