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Federal Taxation - Final Exam- answered- spring
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FICA/self employment tax - 6.2% tax rate matched by employer for total of 12.4% to government; salary greater tha $118,500 does not apply where do tax bills begin? - the House of Representatives--the House Ways and Means Committee marginal tax rate - the tax rate applicable to the next $1 of income or deduction for a taxpayer total economic income - includes all types of economic income that a taxpayer has for the year; includes most types of excludible income such as tax-exempt bond interest; permits business deductions but not personal
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Federal Taxation
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Federal Taxation
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ficaself employment tax 62 tax rate matched
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