Timeline for $0 in taxes if capital gains and ordinary income meet this threshold?
Current License: CC BY-SA 4.0
6 events
| when toggle format | what | by | license | comment | |
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| Apr 12, 2020 at 11:40 | history | edited | Craig W | CC BY-SA 4.0 |
clarify Social Security/Medicare taxes
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| Apr 12, 2020 at 3:30 | comment | added | jamesqf | @grizzam527: If you're self-employed, the instructions for Schedule SE. Otherwise your employer should deduct it from your pay. 7.65% up to $137,700, then 1.45% up to $200K, 2.35% on amounts above that: adp.com/resources/articles-and-insights/articles/e/… | |
| Apr 12, 2020 at 3:25 | comment | added | dave_thompson_085 | You owe SS&Medicare only for earned income: either from a job (wages etc including tips) or a trade or business (profit). Not for other taxable income including: short-term cap gains, dividends, interest (unless exempt), pension/IRA or other deferred comp, rents & royalties, gambling winnings, lawsuit award or settlement (other than physical injury, which is tax-free), cancellation of debt (with some exceptions), alimony not awarded or modified after 2018, or jury pay. At this (low) level it's simply 15.3%, see Schedule SE and its instructions. | |
| Apr 12, 2020 at 0:26 | comment | added | grizzam527 | Can you point me to a resource on how to calculate Social Security and Medicare taxes? | |
| Apr 12, 2020 at 0:17 | vote | accept | grizzam527 | ||
| Apr 11, 2020 at 18:17 | history | answered | Craig W | CC BY-SA 4.0 |