The Medicare tax rate is set to 1.45% on all wages. The additional Medicare tax of 0.9% is withheld on annual wages in excess of $200,000. What portion of my paycheck is withheld for state and local payroll deductions? Forty-one states have income taxes and while some have flat-ra...
Good and informative for states that are legal , sad that my state has not even legalized medical cannabis. Robert Braneff I have done some research on how to obtain a medical marijuana card in Louisiana. As of right now they have 1 doctor in Lafayette who can prescribe a medical marijuana...
In addition, the United States government requires that you pay federal unemployment tax (FUTA) and match what your employees pay in Social Security and Medicare taxes. Withhold additional payroll deductions Employees can choose to have you withhold money from their paychecks to fund retirement plans...
Federal Insurance Contribution Act (FICA) taxes cover Medicare and Social Security. These taxes must be withheld from all employees unless they’re exempt. Medicare A flat rate tax of 1.45% of gross pay with no annual limit. Employees earning more than $200,000 per year are subject to an A...
And don't worry if your card is stolen; there is no way anyone can obtain confidential information through the use of your card. You can also download the ScriptSave WellRx Mobile App so that you always have your card handy. Can I use this to get discounts on my Medical Marijuana? No...
Even with Medicare, the average U.S. couple may need hundreds of thousands of dollars for healthcare and medical care costs in retirement. Fortunately, in Uruguay, it’s a different story.” “Healthcare in Uruguay offers several fantastic benefits compared to the system in the U.S., such...
They want to open anindividual retirement account (IRA) You want your child to gain the educational experience of filing taxes7 In the first two cases, the main reason for filing would be to obtain a refund if one is due. The others are income-dependent or based on the opportunity to be...
Building Permits: If your business requires construction or renovations, you may need to obtain building permits from your local government to ensure that your project complies with building codes and regulations. Occupational Licenses: Some professions, such as doctors, lawyers, accountants, and real ...
One caveat to this is that the IRS expects you to pay yourself a “reasonable salary” as an employee of the LLC. Otherwise, you could pay yourself an annual salary of $1 and avoid contributing anything to Social Security and Medicare. So, what is “reasonable compensation”? The instruct...
Finally, you need to obtain an Employer Identification Number (EIN). This is also known as a Federal Employer Identification Number (FEIN) or Federal Tax Identification Number (FTIN). Much like a Social Security number (SSN) does for individuals or sole proprietors, your EIN identifies your ...