 If i were to owe back child support can they take my tax rebate? |
I don't owe it but my sister does. I don't have any kids
Additional Details
Ok so let me ask this... I don't know the amounts my sister owes but she is saying that even ... |
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 If i rent a house, can i somehow deduct some of that on my tax return? |
| basically, do i even report i pay rent or does it matter...i am going to start doing my own taxes and wanted to know if this is something i need to to add to a return for next year.... |
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 What are the secrets to getting a big tax refund at the end of the year? |
The nation's average return is $ 2,500 according to money.com.
http://money.cnn.com/200
Why am I only getting under ... |
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 What is the MINIMUM amount you can make for the year and be required to file taxes? |
OR what is the MOST you can make and NOT have to file? (same difference)
also if you dont file this year...would it be possible to file for both your 2005 and 2006 taxes next year?
<... |
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 Do singers/actors/model have to pay IRS taxes? |
| Do famous singers/actors/models/perfumist/fashion designer, etc. have to pay IRS taxes from their monthly paychecks too? or are their taxes already payed through the products(CDs, DVDs, cloths, etc.) ... |
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 Tax help. I'm divorced but was married ALL of 2006...? |
| From what I understand we are required to file married not single....right?... |
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 When do i start paying income tax? |
i'm 17, studying, no job.
i'm applying in FAFSA and they're asking if i filed a 2007 IRS income tax return.
i said no, will that affect my eligibility?... |
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 How much tax do we pay on a product in canada? |
| for example, lets say we buy something that is $80. then how much will we actually have to pay after GST, etc. is considered. thanks so much!... |
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 Why Do People With Kids Get Tax Credits...? |
| Why Do People With Kids get Tax Credits....?***SERIOUS QUESTION***.....wouldn't it makes more sense to give people who DON'T have kids tax credits as a incentive for not pro-creating and ... |
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 I am a first time income tax filer and I need some help? |
I am 19 years old. My dad claims me as a dependent.
In 2006 I earned:
$3,708.17 in wages.
$2.99 in interest payments
$26.04 in dividend payments.
$608.06 in ... |
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 Does my spouse's accountant need my SSN if she lives in another state, considering we are divorcing? |
| While divorcing we file married filling separate. She asked me for my SSN for her tax purposes and I dont want to provide it. What options do I have?... |
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 My work I used to work for (last year or so) never sent me my tax papers, what do I do? |
| I talked to corporate and they told me they sent them out but it's already FEB. 10th. Now lets say I don't get it, what happens? I Don't get in trouble for there faults for me not ... |
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Runninutebball | Is it true that people who make over $90K a year don't pay social security taxes? |
I have read two books recently (one published in 2003 and one in 2006) that said that people with $90K plus incomes don't pay into social security. Is that true, and if it is true, why?! |
 |
 
Confused Republican
 |
The answer to your question is "no." People with high incomes pay social security taxes on an amount UP TO a certain level. Earnings beyond that amount are not taxed (at least with social security taxes--they still pay income tax and medicare).
In 2007, the limit was $97,500, and in 2008, the limit will be $102,000.
What this means is that people who earn more than the limit still paid the tax on their first $97,500, but once they started receiving more than that amount, they stopped paying the tax.
The tax is equal to 7.65% of gross income for employees or 15.3% of income for self-employed people.
For example, if an employee earns more than $102,000 in 2008, then that person will pay no more than $7803 in social security taxes in a given year, no matter how much income they earn above the $102,000 level. If the employee is paid $1 million, the amount of social security tax will never be more than $7803. |
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avataz_99
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There is a cap of 97500 for paying SS taxes. What this means is that if someone makes 98000 a year, the first 97500 of wages are subject to the SS tax while the last 500 are not. Keep in mind that the SS cap goes up every year. |
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Judy1
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No, not at all true. They don't pay social security tax on the amount over the limit for the year (a little over $100K for 2008) because no additional benefits are given for amounts over that. But they DO pay social security tax on the first approximately $100K of income. |
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jacksonkhb
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Of course not. You just don't pay any social security on income earned above 90K. People who earn more than 90K not only pay into social security, they pay the MAXIMUM allowable amount into social security. |
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gradypat@att.net
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the threshold for 2008 is $102,000. over that amount, neither you or nor your employer pay the 6.2% social security, but there is no wage limit for the 1.45% medicare component. |
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bud68
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No - they are referring to the income cap on which SS tax is paid. |
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Bill
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No. You pay SS taxes up to 97k. Once you hit or pass 97K they stop withholding SS tax for that year.
New year everything starts over again. |
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MLE
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They do pay but only up to their first $90,000 a year. This is because it is figured that people who make that much wont be using ss when they retire. |
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