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WHAT PERCENT OF WAGES GOES TO MEDICARE?
For most employees in the United States, 1.45% of their wages goes to Medicare. However, high-income earners may be subject to an additional 0.9% Medicare surtax. Employers also contribute 1.45% of wages for Medicare on behalf of their employees.
Is long term private disability income subject to FICA?
No, long term private disability income is not subject to FICA, as it is considered a disability benefit and not earned income. FICA taxes are typically applied to wages and certain other types of income.
Who is eligible for an IRA or Keogh plan?
Individuals with earned income, either through self-employment for a Keogh plan or through wages for an IRA, are eligible to contribute. There may be additional eligibility requirements based on income levels or participation in other retirement plans.
What is the max age for an IRA contribution?
To contribute to a traditional IRA, you must be under age 70 1/2 at the end of the tax year. You, and/or your spouse if you file a joint return, must have taxable compensation, such as wages, salaries, commissions, tips, bonuses, or net income from self-employment. Taxable alimony and separate maintenance payments received by an individual are treated as compensation for IRA purposes. Compensation does not include earnings and profits from property, such as rental income, interest and dividend income or any amount received as pension or annuity income, or as deferred compensation.
Does one pay fica taxes over 70 years of age?
Well, honey, FICA taxes are like that annoying relative who never leaves - they stick around no matter how old you are. So yes, even if you're sipping margaritas on a beach at 70, you'll still be forking over those FICA taxes if you're earning income. Age ain't nothing but a number to the taxman!
Can the surviving spouse's wages be garnished for the deceased spouses medical bills?
No - the surviving spouse is not liable for the deceased person's bills !
Can a spouse in Texas have his or hers wages garnished by the IRS for a tax lien that the spouse incured before the marriage?
Yes. Texas is a community property state, and all income earned by both spouses is property of the community. Because of this, technically your wages are also his wages and the IRS can go after them.
Can a spouses wages be garnished for the others debt Utah?
In some instances, yes they can. Is the spouse listed on the debt? An example would be a joint loan or credit card. If so, that makes the spouse legally liable for the debt. If not, then no, the wages cannot be garnished because the spouse is not legally liable for the debt.
Can Alimony be garnished from wages?
Yes. However, the Consumer Credit Protection Act limits the amount. Your wages can be garnished up to a maximum of 50% to cover child and/or spousal support if you are supporting another spouse or child. If you are not supporting another child and/or spouse, up to 60% of your wages can be garnished. Generally, no more than 25 percent of a person's wages is garnished.
Can you sue an ex spouse for lost wages during a marriage?
Based on what? I sincerely doubt it.
Who is a wage earner in the household if you are not working?
No one If you have no one else in the family that works then you won't earn anything but if say your husband for example was still working then he would earn wages.
Can they garnish your pay check because your spouse is indebt?
Washington State, Can they garnish my pay check because my spouse wages are being garnished to pay off a credit card debt.
If noncustodial father is unable to pay child support in Texas for a child from a previous marriage will his new spouse's income be garnished in Texas?
no... not her/his child ....that is called innocent spouse and the wages of a spouse that is not responsible for someone else's child when it is not biologically theirs.
If your wages increase does the student loan garnish automatically increase to?
Generally, garnishments go off of a percentage of your and/or your spouse's income.
If you owe debt and you and your spouse have separate bank account can the debtor garnish wages from your spouse bank account?
That depends on the nature of the debt and the laws of your state. You should seek the advice of an attorney to discuss your exposure.
Can a creditor garnish your spouses wages for medical bills in Indiana?
If you were married at the date of service for a necessary bill and are found unable to pay and yet the spouse has the ability to pay then Yes the spouse can be held responsible.
In Maryland can a spouse's wages be garnished or have a lien on placed property in their name only that was bought before the marriage if the other spouse is the only one listed on the judgment?
Yes and no. It depends on the state that you live in. See an attorney.
