Tax FAQ
 

Social Security And Medicare Tax Included In Federal?

Irksome to estimate my girlfriend's tax refund.
In NY I didn't have Medicare, or Social Security tax when I did mine.
Are the Social Security and Medicare taxes included in Federal, or some other split?
Do I add them on to the Federal tax witheld or what?
These are located on the W2 form by the way.


Answer: Neither Social Security nor Medicare taxes are included in the Federal receipts tax withholding section of the tax return. Only what is in box 2 of the W-2 will go in that section.

The only times these amounts (SS and Medicare tax) would be considered on the tax resurface is if you make more than $106,800 (for 2009) and have more than one job <Excess Social Security Tax Withtheld> or if you are self-employed <Self Calling Taxes> and file schedule C.
 
 

What Taxes Does A Company Pay For Its Earnings?like Federal Tax, State Tax, Social Security Tax, Medicare Etc?

An wage-earner pays federal tax, state tax, medicare tax, SUI/SDI tax and social security tax.. But, what type of taxes does a company pay for its profit/earnings?


Answer: Profits, they pay solemn and federal taxes.

The company also match the medicare and social security taxes of the employee. There are also unemployment protection taxes, etc.

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How Do I Seperate Medicare And Social Security Tax From My Fica?

my paycheck does not seperate the fica.It does not ease up it down into social security tax and medicare tax,How do i seperate it .The fica is 845


Answer: I don't see why you lack to separate it. But FYI, Medicare is 1.45% and Social Security is 6.20%. Together they are 7.65% from your portion.

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India Tax Treaty
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Do I Get A Tax Refund For The Social Security And Medicare Taxes That I Paid?

As a observer, I only have a part time job. So I was looking at my W-2, and I noticed that my employer didn't take any income tax from my earnings. But my employers did take the benchmark rates for social security taxes, medicare taxes, and state taxes. I was wondering, should I file a tax advent? Would I get the money back from the social security and medicare taxes? Or is the return only for income tax?


Answer: No you will not get any refund for SS or medicare.

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After Tax 401k
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How Long It Takes To Get Refund Of Social Security & Medicare Tax Witheld In Error?

How sustained it takes to get refund of Social Security & Medicare tax witheld in error? Someone told me that it takes 1 year to get it refunded. I don't evaluate so.


Answer: If it's being refunded because you had two employers and your total gains for the year was over the limit to have to pay, then you claim it on your 1040 when you file your taxes, and it comes back in a few weeks with your tax interest.

If you are getting the refund because your earnings weren't subject to social security and medicare withholding but it was taken out anyway by bad move, it would probably take at least a couple months.

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Buy Tax Lien
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Herman Cain on Medicare, Social Security and Taxes.mpg

Herman Cain wants to unconditionally eliminate Medicare and Social Security. He also wants to raise a regressive tax on those who can least afford it..

A Pledge to Protect Social Security and Medicare

After that, the Depend Stock will be worn out, and payroll taxes will only be competent act about 75% of promised benefits. The Trustees of the Social Security Charge emancipating a description projecting sorrow and termination for the system’s “finances,” and the so-called reformers inch out of the woodwork touting many schemes to “release” the system from bankruptcy. For those that need to pull down Social Security, this is desirable tidings. The failure of millions of jobs has meant that fewer workers are paying into the system, and the Trustees have concluded that the Custody Green will only be qualified to account for the emerging shortfall until 2037. But not everyone wants to run for the exits, handing the “difficulty” over to Brick up In someone's bailiwick’s financiers (i. e. privatizing the system), who will rake in billions of dollars in fees and commissions in barter for creating and managing our new... For those that don’t assume from how our money system works, the latest communication is uncommonly alarming....

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