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                                        Are you ready to take control of your finances? Discover how the IRS’s VITA program offers free tax-preparation help for eligible taxpayers—learn what it is, how it works, and why it matters. 
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                                        What if your body could heal itself, clean out toxic waste, and reset your metabolism — simply by pausing eating? Grounded in “The Complete Guide to Fasting” by Jason Fung, this post breaks down the science, real-life benefits, and easy steps to incorporate safe, effective fasting. Whether you’re a busy professional or health seeker, get inspired to try a smarter, gentler path to detox, energy, and freedom. Share this with someone who’s ready to break free from diet rules. 
Social Security Tax and Witholding Calculator
Category: Social Security Tax Social Security Taxes
Social Security Taxes are based on employee wages. There are two components of social security taxes: OASDI and HI. OASDI (Old-Age, Survivors, and Disability Insurance) and HI (Medicare's Hospital Insurance) program. OASDI has been more commonly be known as Federal Insurance Contributions Act (FICA). HI has more commonly known as Medicare. For 2017, the OASDI (FICA) tax rate is set at 6.2% of earnings with a cap at $127,200 (in 2018 this will be increasing to $128,400). The HI (Medicare) is rate is set at 1.45% and has no earnings cap. Employers must pay a matching amount for each tax component. Self employed persons must pay an amount equal to the sum of both the employeee and employer portions.
These tax calculations a-sume that you have all earnings from a single employer. It is possible to have been overwithheld for OASDI (FICA) taxes in the event that the total of all W2 earning (from multiple employers) for the year (2023) exceed $113,700. HI calculations are unaffected since they are not subject to a wage cap.
* Employment related taxes are considered a deductible company expense for employers. Most small and midsize employers are established as a sole proprietorship, partnership, LLC or Sub S corporation. In these entity structures, income passes to the company owners and they are taxed at their personal income bracket rate. For this calculation we have used the maximum tax rate bracket for 2023 of 39.6% (althought that my change if the Bush tax cuts are extended). Get more information on tax brackets for 2023.
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