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A government-run insurance program that provides healthcare assistance to elderly and disabled Americans
1099
Allowances
Payroll tax
Medicare
Marginal tax rate
Effective tax rate
Medicare
Social Security
A federal program that provides monthly benefits to millions of Americans, including retirees, military families, surviving families of deceased workers, and disabled individuals
1099
Allowances
Payroll tax
Medicare
Marginal tax rate
Effective tax rate
Medicare
Social Security
The tax bracket that your highest dollar of income falls into, and therefore the highest tax rate you pay
1099
Allowances
Payroll tax
Medicare
Marginal tax rate
Effective tax rate
Medicare
Social Security
The actual rate you pay on your taxes, as a percentage of your overall income
1099
Allowances
Payroll tax
Medicare
Marginal tax rate
Effective tax rate
Medicare
Social Security
A government-run insurance program that provides healthcare assistance to low income Americans
1099
Allowances
Payroll tax
Medicare
Marginal tax rate
Effective tax rate
Medicare
Social Security
Form that details all non-employee compensation, including for specific jobs like freelancers or contractors
1099
Allowances
Payroll tax
Medicare
Marginal tax rate
Effective tax rate
Medicare
Social Security
Federal and state taxes that all employers must pay, based on a percentage of the employee's salary, toward social services such as Social Security and Medicare
1099
Allowances
Payroll tax
Medicare
Marginal tax rate
Effective tax rate
Medicare
Social Security
Employee-claimed exemptions on the W-4 to determine how much of an employee's pay to withhold from his or her paycheck for taxes
1099
Allowances
Payroll tax
Medicare
Marginal tax rate
Effective tax rate
Medicare
Social Security
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