Tax based on the amount of money earned?

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1260966

2026-03-31 10:10

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As a US Citizen, Resident and Nonresident Alien from your gross wages, salaries, self employment income, (worked for earnings) you will pay your social security, medicare and disability insurance tax amounts. Also any state and local taxes that is required by the area that you are a resident of, and states that you earn income in will also want their share of amounts that are earned in the state where you are working.

This is done before you will get your NET take home paycheck amount.

Your employer would be the only that might be able to help you determine those amounts.

After the end of your tax year you will fill out completely and correctly your 1040 federal income tax return and pay any federal income taxes that may be due on the amount of your TAXABLE income.

You also could have some state income taxes and local taxes also involved after you determine the TAXABLE amount of your income for the tax year.

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