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Tax Rates Reflect Way Of Life

130.00 ₦
Published date: 02/05/2025
  • Location: 20600, Borough of Clementon, Colorado, United States
After all the festivities, laughter, and gift giving for the holidays, giggles and grins quickly meld into groans and glowers as Tax Preparation Season rears its ugly visage. From January 15th until April 15th, Americans fuss and fume about our growing income taxes. Nevertheless, in an odd sort of way, some must enjoy the gloom since they'll file for an extension, prolonging the agony of the inevitable. The 'payroll' tax applies at a set percentage of your working income - no brackets. Regarding employee, you pay 6.2% of the working income for Social Security (only up to $106,800 income) and sole transfer pricing .45% of it for Medicare (no limit). Together they take an additional 7.65% of one's income. There's no tax threshold (or tax free) degree of income for this system.

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