US Social Security
Jan 10th 2011, 5:57 pm
#1
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US Social Security
What are the potential social security costs that need to be paid? I have got my head around income tax just about but is there an equivalent of NI or the like that has to be paid.
As I see it Florida has no state income tax just the sales tax instead. I know we need to allow for medical insurance.
What else should I expect to be deducted from salary?
As I see it Florida has no state income tax just the sales tax instead. I know we need to allow for medical insurance.
What else should I expect to be deducted from salary?
Jan 10th 2011, 6:22 pm
#2
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Re: US Social Security
What are the potential social security costs that need to be paid? I have got my head around income tax just about but is there an equivalent of NI or the like that has to be paid.
As I see it Florida has no state income tax just the sales tax instead. I know we need to allow for medical insurance.
What else should I expect to be deducted from salary?
As I see it Florida has no state income tax just the sales tax instead. I know we need to allow for medical insurance.
What else should I expect to be deducted from salary?
Jan 10th 2011, 6:24 pm
#3
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Re: US Social Security
Jan 10th 2011, 6:50 pm
#5
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Re: US Social Security
What are the potential social security costs that need to be paid? I have got my head around income tax just about but is there an equivalent of NI or the like that has to be paid.
As I see it Florida has no state income tax just the sales tax instead. I know we need to allow for medical insurance.
What else should I expect to be deducted from salary?
As I see it Florida has no state income tax just the sales tax instead. I know we need to allow for medical insurance.
What else should I expect to be deducted from salary?
Jan 10th 2011, 6:52 pm
#6
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Re: US Social Security
It's about 5% in Texas of your Gross monthly. Not sure about Florida though. Can't imagine there would be HUGE differences. But hey, this is America so I could be wrong 
Jan 10th 2011, 8:45 pm
#7
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Re: US Social Security
Social security and Medicare are federal. Here is a link to some info from last year, purely to give you some idea of what usually happens. However, it has just been reduced temporarily because of a government tax break this year, but I can't find an up-to-date government doc posted regarding this year's numbers yet, it is so new.
http://www.ssa.gov/pubs/10003.html
http://www.ssa.gov/pubs/10003.html
Jan 11th 2011, 12:59 am
#8
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Re: US Social Security
Any 401K pension scheme you might have, and any other funds you might set up, such as a health fund to be used to cover deductible, dental etc, or kids college savings fund etc.
I don't know about property tax down your way, but for home owners, in no income tax states, it tends to be really high....but that's down to county/town.
Which down my way is a x10 difference to where we were living closer to Boston, at $10 per every $1000 house value, compared to $100 though that town did have a maximum cap at something like $20K a year or there abouts.
I don't know about property tax down your way, but for home owners, in no income tax states, it tends to be really high....but that's down to county/town.
Which down my way is a x10 difference to where we were living closer to Boston, at $10 per every $1000 house value, compared to $100 though that town did have a maximum cap at something like $20K a year or there abouts.
Jan 11th 2011, 2:26 am
#9
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Re: US Social Security
Social security and Medicare are federal. Here is a link to some info from last year, purely to give you some idea of what usually happens. However, it has just been reduced temporarily because of a government tax break this year, but I can't find an up-to-date government doc posted regarding this year's numbers yet, it is so new.
http://www.ssa.gov/pubs/10003.html
http://www.ssa.gov/pubs/10003.html
