Tax Rates Reflect Well-Being: Difference between revisions

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Latest revision as of 06:11, 18 September 2024

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Julie's total exclusion is $94,079. On her behalf American expat tax return she also gets declare a personal exemption ($3,650) and standard deduction ($5,700). Thus, her taxable income is negative. She owes no U.S. tax.

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For his 'payroll' tax as a staff he pays 7.65% of his $80,000 which is $6,120. His employer, though, must give the same 2.65% - another $6,120. So one of the employee and his awesome employer, the fed gets 15.3% of his $80,000 which comes to $12,240. Keep in mind that an employee costs transfer pricing a manager his income plus 6.65% more.

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Copyright 2010 by RioneX IP Group LLC. All rights booked. This material may be freely copied and distributed subject to inclusion in the copyright notice, author information and all of the hyperlinks are kept complete.

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