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Reply to "Ryan's Tax Rate"
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[quote=Anonymous][quote=Anonymous]The Social Security tax rate for self-employed is 10.4 percent through the end of the year. The Medicare tax rate is 2.9 percent for self-employed. Income 35 ss 10.4 med 2.9 Md tax 5 ..53.3%[/quote] Of course its higher, but because you pay the employer and employee portions. On the other hand your employer would not pay the salary you earn because he would be deducting these before your gross.[/quote]
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