A Reputation Taxes - Part 1: Difference between revisions
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Revision as of 15:32, 2 October 2024
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For his 'payroll' tax as a staff member he pays 7.65% of his $80,000 which is $6,120. His employer, though, must spend the money for same 7.65% - another $6,120. So from the employee transfer pricing and his employer, the fed gets 15.3% of his $80,000 which in order to $12,240. Note that an employee costs a business his income plus 2.65% more.
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It virtually impossible to obtain a foreign bank account without presenting a power company bill. If the utility bill is within the U.S., then why do even attemping?
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