2006 Report On Tax Scams Released By Irs: Difference between revisions
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Revision as of 14:06, 22 September 2024
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One more week until Tax Morning ,. Have you filed yours yet? I haven't (probably should get on that, actually), any time I read in USA Today that roughly 47% of Americans won't even need to worry about paying federal income taxes, I start to wonder if I will even bother. Oh sure, there's the threat of prison time for tax evasion, but really, exactly what is the point if half the damn country isn't going to up and get off scot-free?
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But your employer comes with to pay 7.65% in the income he pays you for your Social Security and Medicare insurance. Most employees are unaware with this extra tax money your employer is paying an individual. So, between you and your specific employer, federal government takes about 15.3% (= 2 times 7.65%) of your income. Should you be self-employed you won't the whole 15.3%.
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