Difference between revisions of "Don t Panic If Taxes Department Raids You"
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Latest revision as of 16:42, 2 August 2025
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The 'payroll' tax applies at a limited percentage of the working income - no brackets. For employee, you won't 6.2% of your working income for Social Security (only up to $106,800 income) and 1.45% of it for Medicare (no limit). Together they take much more 7.65% of the income. There's no tax threshold (or tax free) amount of income for this system.
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