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What is the maximum limit of tax free of personal income in Bangladesh?
Wiki User
∙ 13y ago
tk. 165,000
Wiki User
∙ 13y ago
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I suspect you mean wages subject to the FICA contribution/payment. (The payment is generally NOT deductible in determining taxable income). The maximum amount of wages subject to the social security tax for 2007 is $97,500. There is no limit on the amount of wages subject to the Medicare tax. === === The maximum amount of wages subject to the social security tax for 2008 is $102,000. There is no limit on the amount of wages subject to the Medicare tax. 2009 The maximum amount is $106,800, no limit to the medicare tax. Remember. the wage to be taxed is determined using different definitions of income than in other things (like income subject to income tax).
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In 2009, the IRS set annual Social Security wage base limit at $106,800 at 6.2%. That would make the maximum FICA withholdings $6,621.60.
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For a taxpayer with 3 or more children, the maximum Earned Income Credit is $5,657 and you will receive the maximum amount as long as you earned less than $21,420 in 2009. You will still receive a portion of the credit if you made less than $43,279 and you are single, and less than $48,279 if married filing jointly.
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What is the same as the posted limit?
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