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Revision as of 19:53, 8 October 2026
As the housing market began to slide three years ago, my wife and i began to sense that we were losing our prospects. As people lose the value they always believed they been on their homes, their options in their ability to qualify for loans begin to freeze up of course. The worst part for us was, individuals were in real estate business, and we were treated to our incomes for you to seriously drop. We never imagined we'd have collection agencies calling, but call, they did.
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For citizens that reside abroad, the IRS provides a tax free waiver for that first $92,900 earned this year. But your employer gives to pay 7.65% in the income he pays you for your Social Security and Medicare insurance. Most employees are unaware using this extra tax money your employer is paying that. So, between you and suddenly your employer, the federal government takes 16.3% (= 2 times 7.65%) of your income. For anybody who is self-employed instead of the whole 15.3%.
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