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Probably the OASDI (FICA) (social security and medicare taxes) all mean the same tax.
The maximum social security contribution limit is 6621
No limit on the amount of earned income that is subject to the medicare tax rate of 1.45% of gross income.
If you are a self employed taxpayer then you are responsible for all of your own FICA self employment taxes of 15.3% plus any income taxes on your net profit from your business operation at your marginal tax rate.
For those with well above average income, the Federal income tax withholding may be far more than FICA; FICA is capped, but income tax is not.
What else can I help you with?
What are some of the main benefits of using ACH for a deposit?
There are many benefits of using ACH for deposits the largest reason its the convenience of your pay being deposited directly into your bank account eliminating the need to cash your paycheck at your bank.Other reasons include but are not limited to: no worries about losing a check or forgetting to cash it , better for the environment and it works even if you are away from your house !
The largest expenditure in the national budget is?
human resources.
Which federal tax raises the largest amount of money each year?
Federal Income tax is the largest tax for the government, it raises more money then anything else.
Who is the worlds second largest producer of oil?
Saudi Arabia
Is excise tax the largest source of revenue in the u.s.?
No, excise tax is not the largest source of revenue in the U.S. The largest source of federal revenue comes from individual income taxes, followed by payroll taxes. Excise taxes, which are levied on specific goods and services, contribute a smaller portion to the overall tax revenue.
What do you claim to have the most taxes taken out of your paycheck?
The amount of taxes taken out of your paycheck depends on your income level and tax bracket. Generally, federal income tax is the largest deduction from most people's paychecks.
The largest percentage of Canadian visitors arrive in what season?
the largest percentage of Canadia visitor arrive in the
What contains the largest percentage of the Earth?
The largest percentage of the earths surface is covered by water mainly the Oceans (about 71%).
What country has the largest percentage of desserts?
Australia has the largest percentage of deserts, with about 18% of its land area classified as desert.
Which two gases make up the largest percentage of the atmosphere?
Nitrogen and oxygen make up the largest percentage of the atmosphere.
What contains the largest percentage of the Earth's water?
The largest percentage of the Earth's water is held in oceans. Approximately 96.5%.
Honey has the largest percentage of what?
Honey has the largest percentage of natural sugars, primarily fructose and glucose.
What is the largest and smallest of a percentage point in a t and f distribution?
The smallest percentage point of any distribution is 0% and the largest is 100%.
Which country has the largest percentage of Amerindians?
Bolivia has the largest percentage of Amerindians, with Indigenous peoples making up around 62% of the population.
Where does he largest percentage of the world live?
CHINA
What do the wedges in circular graphs mean?
If you're talking about a pie chart, each wedge in the circle is demonstrating a percentage. The largest wedge would be the largest percentage, the smallest would be the smallest percentage.
What country has the largest percentage of rural population?
India has the largest percentage of rural population, with over 65% of its population living in rural areas.
