Smart Income Tax Saving Tips: Difference between revisions
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Latest revision as of 07:29, 6 March 2025
How many amongst us count our place a burden on? The truth is, hardly if any. Your market eyes of the government, not all income sources are treated equally. For example, when are usually working for your boss as an employee and you duly pay your taxes at the end of the period. This has been going on for some time. The amount of taxes paid is noticeable to be the same each year (give and take). Therefore, it will appear as though all that earned income staying taxed equally each.
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10% (8.55% for healthcare and just 1.45% Medicare to General Revenue) for my employer and me is $15,612.80 ($7,806.40 each), which is less than both currently pay now ($1,131.93 $7,887.10 = $9,019.03 my share and $1,131.93 $8,994 = $10,125.93 my employer's share). For my wife's employer and her is $6,204.41 ($785.71 my wife's share and $785.71 $4,632.99 = $5,418.70 her employer's share). Lowering the amount down to a .5% (2.05% healthcare 3.45% Medicare) contribution for everybody for an entire of 7% for lower income workers should make it affordable for workers and employers.
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