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Net profit from business operation 536.30 X 15.3% equal to 82.05 social security and medicare tax.
But please understand that SS/FICA taxable income is NOT the same as taxable income for other purposes. For example, you cannot take the amount of income that tax has been withheld on and use it. Or the amount you "received" in your pay - as many other factors are considered as FICA taxable that may have been deducted or not even seen in your payroll.
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does Mississippi Tax Social Security Income?
does Mississippi Tax Social Security Income
What was the Social Security tax for 2001?
The Social Security tax cap for 2001 was $80,400.
Does Massachusetts tax social security?
No. Massachusetts is not one of the fourteen states that tax Social Security benefits.
Do you pay social security tax when drawing social security?
yes
Do kids pay social security tax?
no im pretty sure you have to be 18 to pay social security tax
Are social security taxes state taxes?
Social Security is a federal program. It is a federal "tax" not a state tax.
How much does social security cost per year?
For 2008, the maximum social security tax withholding for an individual is $6,324, the tax on $102,000. For 2009, the maximum social security tax withholding for an individual is $6,622, the tax on $106,800.
What example of a payroll tax?
Social security tax
What was the Social Security tax cap for 2006?
The Social Security tax cap for 2006 was 6.2% of the first $94,200 of wages.
Does Rhode Island tax social security benefits?
No. Massachusetts is not one of the fourteen states that tax Social Security benefits.
Is Social Security Disability subject to Oregon state tax?
No, Oregon is not one of the fourteen states that tax Social Security income.
What form do social security recipients get at tax timeother than the w 2?
Social security recipents get a 1099 at tax time.
