“If my time working in Ireland had been spent working in the US, I would have paid into Social Security and have it exempted from taxation by the state,” he wrote. “I am being penalized to the tune of $700 per year in taxes based on the location of my work.” Advertisement “Th...
In economics, taxes fall onwhoever pays the burden of the tax, whether this is the entity being taxed, such as a business, or the end consumers of the business’s goods. From an accounting perspective, there are various taxes to consider, including payroll taxes, federal and state income ...
800 and then a flat tax afterward. One of the big arguments some have against a flat tax is that it's regressive, since the rich don't pay any more social security and medicare taxes after $106,800.
I noted with interest the views of Green Mountain Daily contributors regarding a letter I recently signed to the so-called congressional Super Committee, which is charged with getting the federal debt under control. I signed this letter because I am working hard to preserve vital human service pr...
Rental property income is taxed differently from dividend income. There is no double taxation. Here's an overview of how rental property income is taxed in the United States: Income Classification:Rental income is generally considered “passive income” by the IRS. ...
Say you are in the 35% bracket for federal income tax and 10% for state income tax—that’s a combined marginal tax rate of 45%. But you might also add an additional 7.65% to cover Social Security and Medicare taxes, for a grand total of 52.65%. ...
I am so shocked I though 401k plans were inacted for all the people I see now that it was for the elite upper management! I doesn’t make sense that we the poor always get shafted…Stop the World I want to get off… Reply Ken Your 401k was designed to supplement your pension. ...
I lived through the opening of records and the increased bureaucracy of record keeping, learning and making adjustments until I had record templates approved prior to current computer enhancement. For several years, I submitted all records with my billings to Medicare until they told me that I ...
I am a little surprised at your misunderstanding of full-reserve banking. I gave three bases for full-reserve banking, and your conceptual here – oceans full of reserve water – is antithetical to all of them. You are using the “fractional-reserve” system as a basis for what happens in...
I have a question that's probably kind of dumb, but if you'll indulge me regarding taxable accounts: how often and when are we actually taxed? For example, if you have 500 shares of VTI in a Vanguard account, are you taxed capital gains only when you withdraw it? Are you taxed ...