2017 Payroll Tax Deductions | U.S. & Canada

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5 Payroll Tax Mistakes To Avoid

You may want to read the US Small Business Administration article by Barbara Weltman titled 5 Payroll Tax Mistakes to Avoid . It discusses best protection strategies for:

Misclassifying workers

Not using an accountable plan for employee reimbursements

Failing to keep...

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Website: http://www.bookkeeping-essentials.com

Related topics : social security tax calculator self employed / social security payroll tax calculator / federal payroll tax calculator for employers / payroll tax deduction calculator canada / social security tax calculator for 2017

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Self Employment Tax Calculator - How Much Will Your Self ...

Add, Subtract, Multiply, Divide

How much self-employment tax will I pay?

Self employment taxes are comprised of two parts: Social Security and Medicare. You will pay 6.2 percent and your employer will pay Social Security taxes of 6.2 percent on the first $128,400 of your covered wages. You each also pay Medicare taxes of 1.45 percent on all your wages - no limit. If you are self-employed, your Social Security tax rate is 12.4 percent and your Medicare tax is 2.9 percent on those same amounts of earnings but you are able to...

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Website: calcxml.com

Related topics : social security tax calculator self employed / self employed income tax calculator / self employment tax calculator / employer tax deduction calculator / employment tax calculator

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Self-Employment Tax Calculator (Tax Year 2018 ...

Employer Paid Income

Enter your total employment wages and tips that you have been paid where Social Security taxes have been deducted. In 2018, income up to $128,400 is subject to the 12.4% tax paid for the Social Security portion of self-employment taxes (FICA). Your employment wages and tips should have a 6.2% deduction for Social Security from your pay, and an additional 6.2% payment from your employer that does not appear on your paycheck. If your total wages, tips and self-employment...

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Website: https://www.taxconnections.com

Related topics : social security tax calculator self employed / self employed income tax calculator 2018 / self employed income tax calculator / self employment tax calculator / social security income tax calculator

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Medicare Tax Calculator for 2018 - 2019

$125,000

$125,000

This is the amount that should be withheld from your paycheck, and the amount your employer is required to pay on your behalf for your Medicare tax contribution.

If you have deductions or would like a more accurate calculation of all taxes due, use the Free TurboTax or H&R Block calculators to calculate all federal income tax liabilities.

Calculate FICA Medicare Tax Liability

Employer Medicare Tax Payment Requirements

Employers are required to match the 1.45% on initial employee earnings. However, they...

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Date: 2018-12-08 02:07:01
Website: http://medicaretaxcalculator.com

Social Security Tax and Witholding Calculator - StaffMarket

Social Security Tax and Withholding Calculator

Enter your expected earnings for 2018 ($):

Calculate Social Security Taxes

Social Security Taxes are based on employee wages. There are two components of social security taxes: OASDI and HI. OASDI (Old-Age, Survivors, and Disability Insurance) and HI (Medicare's Hospital Insurance) program. OASDI has been more commonly be known as Federal Insurance Contributions Act (FICA). HI has more commonly known as Medicare. For 2017, the OASDI (FICA) tax rate is set at 6.2% of earnings with a cap at $127,200 (in 2018 this will...

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Website: https://www.staffmarket.com

Related topics : social security tax calculator self employed / social security tax calculator 2018 / social security income tax calculator / social security tax calculator for 2017 / social security tax calculator

Payroll Tax Calculator -Social Security and Medicare ...

How Contributions are Calculated

The FICA (for Federal Insurance Contributions Act) tax (also known as Payroll Tax or Self-Employment Tax, depending on your employment status) is your contribution to Social Security and Medicare as a percentage of your salary:

Tax Year:

� � � � � source: Social Security Administration

If you're an employee, then you pay one half of this total (probably as a withholding on your paycheck); your employer pays the other half for you (and then gets a deduction for their...

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Date: 2017-11-07 12:10:07
Website: http://moneychimp.com

Related topics : social security tax calculator self employed / self employment tax return calculator / self employment tax return / self employment tax calculator / social security payroll tax calculator

FICA Tax Calculator | Calculate FICA Tax Online

Our free online FICA Tax Calculator is a super easy tool that makes it easy to calculate FICA tax for both those who are an employee and those who are self employed. The FICA tax came about as part of the Federal Insurance Contributions Act (FICA) and essentially represents the payroll tax that is levied by the United States Federal government on both the employer and employee. Our free FICA tax calculator will also split out the proportion of FICA tax that you pay that represents...

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Website: calculatorpro.com

Related topics : free online payroll tax calculator / online free tax calculator / free federal payroll tax calculator / online payroll tax calculator / tax online calculator

2016 Payroll Tax Unchanged; Tax Brackets Nudge Up

HR professionals won't have to adjust their payroll tax systems�in 2016�for a Social Security FICA increase, as the amount of earned income subject to Social Security taxes won't change, given the absence of inflation and tepid wage increases over the past year.

But the modest amount of inflation this year was enough to cause small upward adjustments in tax filers' income tax brackets for...

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Date: 2018-03-23 02:51:14
Website: https://www.shrm.org

Related topics : social security payroll tax calculator / social security income tax calculator / social security tax calculator self employed / social security tax calculator 2015 / social security tax calculator 2014

Social Security Tax Calculator 2018 - 2019

Our free Social Security calculator below allows consumers to Calculate Federal Social Security Taxes based on their earned income.

The Social Security Administration is a government system that was formed August 14, 1935. It was put in place to provide monetary assistance to people with inadequate or no income, and benefits to retired people and those who are unemployed or disabled....

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Date: 2018-12-08 02:07:03
Website: http://medicaretaxcalculator.com

How to Calculate Income Tax & Social Security Tax | Bizfluent

Everyone must pay personal income and Social Security taxes. Personal income taxes are dependent on many variables, including filing status, number of dependents, sources of income, itemized deductions and withholding rates. Social Security and Medicare taxes comprise the Federal Insurance Contributions Act tax, commonly referred to as FICA. Certain income items are not subject to personal income...

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Website: https://bizfluent.com

Related topics : social security income tax calculator / social security tax calculator self employed / self employed income tax calculator / social security tax calculator irs / federal income tax withholding calculator for employers

Medicare Payroll Tax Goes Up by .9% for High Income ...

Medicare Payroll Tax Goes Up by .9% for High Income Earners

As part of the health care reform legislation passed under the Affordable Care Act, the employee portion of the FICA Medicare payroll tax rate for high income earners will increase by .9% beginning in 2013. The employer portion of the Medicare tax will remain unchanged at 1.45%.

The FICA tax is made up of the Social Security tax and the...

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Website: https://www.bizcheckspayroll.com

Related topics : social security tax calculator self employed / social security payroll tax calculator / self employed income tax calculator / social security income tax calculator / social security tax calculator irs

S-Corporation Tax Calculator - Business Incorporation

Review how the S Corporation can considerably

reduce your self employment tax obligations.

S Corporation Tax Calculator

There are several advantages to forming a business entity. It protects your personal assets, gives you more financial visibility, and can make it easier to manage your taxes. If you choose the right type of corporate structure, you can significantly lower your yearly tax...

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Website: https://www.incfile.com

Related topics : self employed income tax calculator 2016 / self employed income tax calculator / social security tax calculator self employed / self employment tax calculator / federal payroll tax calculator for employers

IRS W-4 Tax Withholding Calculator - Calculate Taxes with ...

Calculate Taxes   |  TaxCaster App   |  Withholding Calculator   |  TurboTax Discounts   |  Life Calculator   |  SS & Med

IRS W-4 Tax Withholding Calculator

Every year tax season calculations help American tax payers determine a lot of important figures needed for tax preparation purposes. One calculation tool that can be very helpful is a W-4...

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Date: 2017-10-16 18:17:10
Website: http://calculatetaxes.net

Do eBay Sellers Need to Pay Self Employment Taxes?

Home / eBay / Do eBay Sellers Need to Pay Self Employment Taxes?

Do eBay Sellers Need to Pay Self Employment Taxes?

January 7, 2008

After informing my eBay Partner  that he needed to pay taxes on eBay his sales  he called me up yesterday and asked if he owes self employment taxes in addition to income taxes on his eBay profits.

My response was, if you are selling on eBay and have a...

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Website: http://moneysmartlife.com

Related topics : self employed income tax calculator / social security tax calculator self employed / self employment tax calculator / employment tax calculator / paye income tax calculator

Self-Employment Tax Optional Methods | Tax Matters ...

Self-Employment Tax Optional Methods

If you are self-employed you are no stranger to taxes. The three most common taxes for the self-employed are self-employment tax, federal income tax, and state income tax. Self-employment tax is 15.3% for the first $106,800 of earned income and 3.9% for all earned income above $106,800. It is a significant tax that should be considered in tax planning....

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Website: http://www.taxmatterssolutions.com

How Much Money Do You Have to Make to File Taxes?

How much money do you have to make to file taxes? What is the minimum income to file taxes?

Let's take a look at the requirements for the minimum income to file taxes in 2017 (and due in 2018).

2017 Minimum Income Requirements

The IRS released the minimum income to file taxes in 2017.

For the 2017 tax year, you will need to file taxes if your gross income meets the minimum income for your filing...

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Website: https://www.mydollarplan.com

Self-Employment Tax and IRS Estimated Tax Payment

Self-Employment Tax and IRS Estimated Tax Payment

Self-Employment Tax and IRS Estimated Tax Payment

It's a great feeling to be your own boss and make money at it. At least, until you discover that you are now responsible for paying self-employment tax and may be required to make estimated tax payments. I have been paying self-employment tax over the last few years; however, I have not made an...

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Website: http://www.moolanomy.com

Federal Income Tax Return Filing Requirements for Retirees

Do retirees have to file a federal income tax return? You might think that the days spent filing income tax return each year is behind you once you retired; however, being retired doesn't necessarily get you out of filing a return with the IRS. In fact, you may want to file even if you are not required to file a tax return for a given year. There are many factors that go into your need to file a...

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Website: http://www.moolanomy.com

How to Calculate Taxable Income & Tax Liability | Chron.com

How to Calculate Taxable Income & Tax Liability

by Fraser Sherman; Updated March 15, 2018

Related Articles

4 How to Calculate Marginal & Average Tax Rates

To figure your taxable income, add up your income for the year and subtract expenses. Enter the total on your 1040.

Figuring your business taxes yourself may seem scary, but it's usually doable. If you keep records of your income and expenses...

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Website: http://smallbusiness.chron.com

What Is Social Security Tax? - Accounting and Payroll ...

Social Security tax is one of these employment taxes.

What is Social Security tax?

Social Security is a payroll tax . Every employee and employer in the U.S. is required to pay Social Security tax. As an employer, you will withhold the tax from employee wages. You will also make a Social Security contribution based on the employee's wages.

Social Security tax is one part of FICA tax . The other...

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Website: https://www.patriotsoftware.com

Working Overseas Tax for Americans Living in Singapore

Over 320,001

22

A US expat is considered to be a resident for tax purposes if he or she lived or worked in Singapore for at least 183 days during the calendar year. As a non-resident, your Singapore tax will be calculated at a flat rate of 15% of your employment income or using the progressive rate table shown above, whichever is greater. For Singapore year of assessment (YA) 2016 and earlier,...

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Website: https://www.greenbacktaxservices.com

Income Tax - U.S. Department of State | Home Page

Income tax information for A or G visa holders:

locally hired foreign mission employees

If you are "permanently resident in" the United States for purposes of the Vienna Conventions, you are not entitled to the income tax exemption available under the Vienna Conventions. See the Department's circular note dated April 10, 1991 .

If you are employed by a foreign mission and hold an "A" or "G" visa,...

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Date: 2018-03-16 07:50:40
Website: https://www.state.gov

Raising cap on social security tax best way to fix ...

Commentary o By John Irons o June 17, 2009

Thank you Chairman Kohl, Ranking Member Martinez, and other members of the committee for inviting me to testify today.

The Social Security system has been the bedrock of retirement security for Americans for over half a century. Over the years, the system has evolved in response to changing conditions. As is well known, program outlays are expected to...

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Website: epi.org

Related topics : social security tax calculator self employed / social security payroll tax calculator / social security income tax calculator / social security tax calculator / self employed income tax calculator

PaycheckCity Ready to Calculate 2014 Paychecks

By Elizabeth Oviedo

Jan 06, 2014

Symmetry Software , creators of PaycheckCity.com and specialists in payroll withholding tax solutions for the internet and corporate intranets, announced today the completion of the 2014 tax updates to its PaycheckCity® paycheck calculators. With hundreds of tax updates included in the calculators, individuals can now calculate on PaycheckCity® the payroll...

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Website: https://www.paycheckcity.com

Related topics : payroll federal tax calculator 2014 / online payroll tax calculator 2014 / payroll tax deduction calculator 2014 / tax payroll calculator 2014 / tax paye calculator 2014

S Corporation Benefits Explained by a Small Business CPA

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S corporations, or Subchapter S corporations, produce several tax benefits as compared to sole proprietorships and partnerships operating an active trade or business.

If you're considering using an S corporation for your business, therefore, you want to understand these benefits to make the best decision about whether or not to go the "S corporation route" and so you can maxmize your tax...

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Website: http://www.scorporationsexplained.com

1040 Tax Calculator (Tax Year 2013) - Dinkytown

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1040 Tax Calculator (Tax Year 2013)

Enter your filing status, income, deductions and credits and we will estimate your total taxes for 2012. Based on your projected tax withholding for the year, we can also estimate your tax refund or amount you may owe the IRS next April 2013.

1040 Tax Calculator (Tax Year 2013) Definitions

Federal Income Tax Rates:

**TAXTABLE_2013_DEFINITION**

Filing...

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Date: 2018-02-05 06:52:13
Website: dinkytown.net

Top 15 Tax Deductions For The Self-Employed | MoneyTips

As a self-employed person, you probably watched the development of the Tax Cuts and Jobs Act with some trepidation. The tax code is not often kind to the self-employed, nor are most of the changes to the code.

However, the new tax law retains most self-employment deductions and offers a few new forms of relief - even if you don't have billions of dollars parked offshore waiting to be repatriated....

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Website: https://www.moneytips.com

How is Social Security tax calculated? | Investopedia

How is Social Security tax calculated?

By Claire Boyte-White | Updated January 31, 2018 -- 9:00 AM EST

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A:

The Old-Age, Survivors and Disability Insurance program (OASDI) tax - more commonly called the Social Security tax - is calculated by taking a set percentage of your income from each paycheck. This percentage is determined by law each year and applies to employees and employers. For...

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Website: https://www.investopedia.com

The Ultimate List of Tax Forms for Small Businesses ...

This post provides more information on a variety of tax forms for small businesses. Whether you are a new small business, or a veteran entrepreneur, review each tax form so you can file a complete tax return and gain a better understanding of your tax obligations.

Tax Forms for Starting a Business

Form SS-4, Application for Employer Identification Number: This form is used to apply for an EIN, or...

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Website: https://web.blockadvisors.com

Employment Taxes 101: An Owner's Guide to Payroll Taxes ...

The Internal Revenue Service requires most businesses with employees to� withhold and deposit �federal payroll, social security, and Medicare taxes. Withholding, filing, and remitting payroll taxes can be complicated, but they are tasks that you as a business owner must get right. Failure to make proper tax withholdings or deposits can result in significant fines and penalties for a...

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Date: 2019-03-24 07:49:02
Website: https://www.paychex.com

New York State Maintenance & Child Support Calculator

New York State Maintenance & Child Support Calculator

New York State Maintenance & Child Support Calculator

Version 4.0.3 - Updated March 2, 2018

Javascript is disabled in your browser.

You must enable it for the calculator to function.

Cookies are disabled in your browser.

The calculator will still function; however, some browsers will erase the values entered if you refresh or revisit the page....

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Website: http://www.joyrosenthal.com

Belgian tax guide: Understanding taxes in Belgium for ...

EUR38,830+

50%

Under the Belgian tax system, residents also pay municipal and regional taxes that typically range up to 9%. For non-residents, an average 7% municipal tax is taken into account, irrespective of whether the municipal taxes are levied in the commune.

Belgian income tax is paid on the taxable base, which is determined from salary less compulsory social security contributions (paid...

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Website: https://www.expatica.com

Income Tax Calculator - Tax-Rates.org

The Tax-Rates.org Tax Calculator is now fully updated for tax year 2014! Federal calculations will now use the official 2014 federal tax brackets and deductions, and state calculations will use the most recent brackets available.

There have been several major tax law changes as of tax year 2013, including several that are the result of new Obamacare-related taxes. We support the following new tax...

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Website: http://www.tax-rates.org

Income Tax Calculator - Tax-Rates.org

The Tax-Rates.org Tax Calculator is now fully updated for tax year 2014! Federal calculations will now use the official 2014 federal tax brackets and deductions, and state calculations will use the most recent brackets available.

There have been several major tax law changes as of tax year 2013, including several that are the result of new Obamacare-related taxes. We support the following new tax...

Read more


Website: http://www.tax-rates.org

Income Tax Calculator - Tax-Rates.org

The Tax-Rates.org Tax Calculator is now fully updated for tax year 2014! Federal calculations will now use the official 2014 federal tax brackets and deductions, and state calculations will use the most recent brackets available.

There have been several major tax law changes as of tax year 2013, including several that are the result of new Obamacare-related taxes. We support the following new tax...

Read more


Website: http://www.tax-rates.org

Pay-as-you-earn tax - Wikipedia

Origins[ edit ]

Devised by Sir Paul Chambers , PAYE was introduced into the UK in 1944, [1] following trials in 1940-1941. As with many of the United Kingdom's institutional arrangements, the way in which the state collects income tax through PAYE owes much of its form and structure to the peculiarities of the era in which it was devised. The financial strain that the Second World War placed upon...

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Date: 2018-03-16 23:03:15
Website: https://en.wikipedia.org

Pay-as-you-earn tax - Wikipedia

Origins[ edit ]

Devised by Sir Paul Chambers , PAYE was introduced into the UK in 1944, [1] following trials in 1940-1941. As with many of the United Kingdom's institutional arrangements, the way in which the state collects income tax through PAYE owes much of its form and structure to the peculiarities of the era in which it was devised. The financial strain that the Second World War placed upon...

Read more

Date: 2018-03-16 23:03:15
Website: https://en.wikipedia.org

Income Tax Calculator - Tax-Rates.org

Send Instant Feedback About This Tool

Can you help us improve this calculator?

We rely on our users' feedback to make this calculator as useful as possible. Let us know how we can improve it!

Did this calculator answer your tax questions?

How can we make the calculator easier to use?

Are there any features you wish the calculator had?

We value your input! Your feedback and suggestions will go...

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Website: http://www.tax-rates.org

Income Tax Calculator - Tax-Rates.org

Send Instant Feedback About This Tool

Can you help us improve this calculator?

We rely on our users' feedback to make this calculator as useful as possible. Let us know how we can improve it!

Did this calculator answer your tax questions?

How can we make the calculator easier to use?

Are there any features you wish the calculator had?

We value your input! Your feedback and suggestions will go...

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Website: http://www.tax-rates.org

Income Tax Calculator - Tax-Rates.org

Send Instant Feedback About This Tool

Can you help us improve this calculator?

We rely on our users' feedback to make this calculator as useful as possible. Let us know how we can improve it!

Did this calculator answer your tax questions?

How can we make the calculator easier to use?

Are there any features you wish the calculator had?

We value your input! Your feedback and suggestions will go...

Read more


Website: http://www.tax-rates.org

Pay-as-you-earn tax - Wikipedia

Origins[ edit ]

Devised by Sir Paul Chambers , PAYE was introduced into the UK in 1944, [1] following trials in 1940-1941. As with many of the United Kingdom's institutional arrangements, the way in which the state collects income tax through PAYE owes much of its form and structure to the peculiarities of the era in which it was devised. The financial strain that the Second World War placed upon...

Read more

Date: 2019-03-20 09:54:13
Website: https://en.wikipedia.org

Income Tax Calculator - Tax-Rates.org

Send Instant Feedback About This Tool

Can you help us improve this calculator?

We rely on our users' feedback to make this calculator as useful as possible. Let us know how we can improve it!

Did this calculator answer your tax questions?

How can we make the calculator easier to use?

Are there any features you wish the calculator had?

We value your input! Your feedback and suggestions will go...

Read more


Website: http://www.tax-rates.org

1040 Tax Calculator (Tax Year 2006) - cchwebsites.com

Filing status

Choose your filing status. Your filing status determines the income levels for your federal tax bracket. It is also important for calculating your standard deduction, personal exemptions, and deduction phase out incomes. The table below summarizes the five possible filing status choices. It is important to understand that your marital status as of the last day of the year...

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Website: http://www.cchwebsites.com

Small Business Tax Obligations: Payroll Taxes - Investopedia

One of the issues small-business owners have to contend with is staying current with the many obligations for local, state and federal taxes. While most business owners hire an accountant or a tax professional to deal with tax-related issues, understanding the tax system is important to those who bear the ultimate responsibility for fulfilling all tax obligations. This article will focus on the...

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Website: https://www.investopedia.com

Saving for Taxes if You’re Non-W2 Employed

Our Financial Planning Calendar

Saving for Taxes if You're Non-W2 Employed

Whether "Non-W2 Employed" means you get a 1099 form for independent contractor work or you don't get any kind of form because you're self-employed, you still have to worry about taxes. Because you don't have an employer taking taxes out for you, you have to figure out how to pay them yourself.

Determining Your Tax...

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Website: http://thefinancegeek.com

Self-employed abroad - Online Taxman

You live abroad or travel the world and work for yourself? Don't overlook self-employment tax on foreign income!

A common misconception among expats and nomads is that the first roughly $100,000 of income are completely tax free in the US under the Foreign Earned Income Exclusion (FEIE) . This is however only partially true. The FEIE lets you exclude income from income tax. It does not get you...

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Website: https://onlinetaxman.com

How Are S-Corporations Taxed? — Oblivious Investor

How to Calculate Marginal Revenue

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Oblivious Investor offers a free newsletter providing tips on low-maintenance investing, tax planning, and retirement planning. Join over 19,000 email subscribers:

Articles are published Monday and Friday. You can unsubscribe at any time.

How Are S-Corps Taxed?

S-corporations, like partnerships, are pass-through entities. That...

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Website: https://obliviousinvestor.com

How Social Security works for the self-employed | Investopedia

How Social Security works for the self-employed

By Amy Fontinelle | Updated March 16, 2018 -- 4:09 PM EDT

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When you work as an employee for someone else, that company or organization takes Social Security taxes out of your paycheck and sends the money to the Internal Revenue Service (IRS) . In 2018, the Social Security tax rate is 6.2%, plus 1.45% for Hospital Insurance (commonly known as...

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Website: https://www.investopedia.com

Simple Federal Tax Calculator (Tax Year 2018) - Dinkytown.net

Enter your filing status, income, deductions and credits and we will estimate your total taxes. Based on your projected tax withholding for the year, we can also estimate your tax refund or amount you may owe the IRS next April.

Simple Federal Tax Calculator (Tax Year 2018) Definitions

Federal Income Tax Rates:

**TAXTABLE_TAXYEAR_DEFINITION**

Filing status

Choose your filing status. Your filing...

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Date: 2018-02-05 06:52:09
Website: dinkytown.net

Simple Federal Tax Calculator - dinkytown.net

Simple Federal Tax Calculator

Enter your filing status, income, deductions and credits and we will estimate your total taxes. Based on your projected tax withholding for the year, we can also estimate your tax refund or amount you may owe the IRS next April.

Simple Federal Tax Calculator Definitions

Federal Income Tax Rates:

**TAXTABLE_TAXYEAR_DEFINITION**

Filing status

Choose your filing...

Read more

Date: 2019-01-02 04:07:29
Website: dinkytown.net