A Standing For Taxes - Part 1: Difference between revisions

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The 'payroll' tax applies at quick percentage of the working income - no brackets. Being an employee, fresh 6.2% of your working income for Social Security (only up to $106,800 income) and a single.45% of it for Medicare (no limit). Together they take one 7.65% of the income. There is no tax threshold (or tax free) regarding income to do this system.

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