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You are self-employed and report a taxable income of $120,000 in 2010. The Social Security tax rate for that year is 12.4% up to $106,800. How much, in dollars, do you pay towar…
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You are self-employed and report a taxable income of $120,000 in 2010. The Social Security tax rate for that year is 12.4% up to $106,800. How much, in dollars, do you pay towar…
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Jan 2, 2020
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You are self-employed and report a taxable income of $120,000 in 2010. The Social Security tax rate for that year is 12.4% up to $106,800. How much, in dollars, do you pay toward the Social Security tax?
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Answer:
120,000-106,800=13,200
Love Kumar
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Jan 7, 2020
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