Don t Panic If Tax Department Raids You: Difference between revisions
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Latest revision as of 06:40, 10 September 2026
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Being the federal government takes the lion's share, I'll focus on its tax. But your employer has the benefit of to pay 7.65% of the items income he pays you for your Social Security and Medicare health insurance. Most employees are unaware in this particular extra tax money your employer is paying that you. So, between you in addition employer, the us government takes 12-15.3% (= 2 times 7.65%) of the income. If you are self-employed instead of the whole 15.3%. What difficulties as your 'income' tax has few of tax brackets each having its own tax rate from 10% to 35% (2009).
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