1. Home
  2. Self Employed
  3. Opinion | Why is Social Security foundering? ‘Something is not right here.’
Opinion | Why is Social Security foundering? ‘Something is not right here.’

Opinion | Why is Social Security foundering? ‘Something is not right here.’

5
0


The article stated that employee and employer each contribute 6.2 percent of income earnings to fund Social Security. Self-employed individuals pay both amounts for a total of 12.4 percent. It also specified wages eligible for Social Security taxation are capped at $168,600, and any earnings over this amount are not taxed for Social Security.



Source link

Author
Visited 5 times, 1 visit(s) today

LEAVE YOUR COMMENT

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.