10 Reasons Why Hiring Tax Service Is Critical: Difference between revisions

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The 'payroll' tax applies at a hard percentage of the working income - no brackets. For employee, obtain a 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 an additional 7.65% of your income. There is no tax threshold (or tax free) level of income for this system.

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