Difference between revisions of "3 Areas Of Taxes For Online Business Proprietors"

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Latest revision as of 20:14, 20 July 2025


Filing taxes is a confusing and complex process to begin with for some. Making errors will happen from time for time, but the one thing you want to avoid to do is understate the income you make. Underreporting earnings is one to obtain the IRS hopping mad.

10% (8.55% for healthcare and 1.45% Medicare to General Revenue) for my employer and me is $15,612.80 ($7,806.40 each), which is less than both currently pay now ($1,131.93 $7,887.10 = $9,019.03 my share and $1,131.93 $8,994 = $10,125.93 my employer's share). For my wife's employer and her is $6,204.41 ($785.71 my wife's share and $785.71 $4,632.99 = $5,418.70 her employer's share). Decreasing the amount in order to a .5% (2.05% healthcare 1.45% Medicare) contribution per for an entire of 7% for low income workers should make it affordable for workers and employers.

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