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steve lopez
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Social Security tax Math Help !?
you are self employed and report a taxable income of $200,000 in 2010. The social security tax rate for that year is 12.4% up to $106800. How much do you pay for social security tax?
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- ?Lv 68 years agoFavorite Answer
12.4% * ($106,800) = $13,243.20
we only tax the $106,800 out of the $200,000
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