AxiomOfChoice
AxiomOfChoice
Joined: Sep 12, 2012
  • Threads: 32
  • Posts: 5761
July 22nd, 2014 at 7:30:05 PM permalink
Quote: mickeycrimm

you have to pay the employee's and the employer's side of FICA. It's more like 15.5% for everything above like $4000, I think.



Right.

Basically, payroll taxes are split between you and your employer. If you employ yourself you have to pay both parts.

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