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But your employer has the benefit of to pay 7.65% with the income he pays you for your Social Security and Medicare insurance. Most employees are unaware with this extra tax money your employer is paying for you. So, between you in addition employer, the federal government takes twenty.3% (= 2 times 7.65%) of the income. When you are self-employed you spend the whole 15.3%. Monitor changes in tax litigation.

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