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Revision as of 09:01, 8 January 2025
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If you add a C-Corporation as part of your business structure you can lessen your taxable income and therefore be qualified for a few of those deductions for the purpose your current income is simply high. Remember, a C-Corporation is specific to it individual citizen.
10% (8.55% for healthcare and a person particular.45% Medicare to General Revenue) for my employer and me is $15,612.80 ($7,806.40 each), which is less than both currently pay now ($1,131.93 $7,887.10 = $9,019.03 my share and $1,131.93 $8,994 = $10,125.93 my employer's share). For my wife's employer and her is $6,204.41 ($785.71 my wife's share and $785.71 $4,632.99 = $5,418.70 her employer's share). Decreasing the amount right down to a transfer pricing 3.5% (2.05% healthcare step 1.45% Medicare) contribution each for an utter of 7% for lower income workers should make it affordable for both workers and employers.
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