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Revision as of 02:59, 16 May 2026


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So from your working income, the federal government taxes takes your 'income tax' transfer pricing get yourself a according for your own taxable income given to the tax brackets nicely gets 15.3% of your working income too.

For his 'payroll' tax as a he pays 7.65% of his $80,000 which is $6,120. His employer, though, must pay the same 7.65% - another $6,120. So within employee and the employer, the fed gets 15.3% of his $80,000 which comes to $12,240. Note that an employee costs a business his income plus 1.65% more.

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