Say a person is of full retirement age of 66 and is drawing their Social Security retirement while continuing to work full time. How much of their Social Security benefits are subject to income tax if their adjusted gross income is 33,000 from all earning not including Social Security?
The corporation they invest in pay the income taxes not the individual investors!Corporations paying corporate income taxes is also known as the price of doing business!
Now if they owned the company as a sole proprietorship that would be different.Then they would only be taxed again on the...
invested in a 401K or an IRA? If you were born rich enough to never have a 401k or Ira you pay 15% but those of us who made wages and saved our seed money usually have it in a 401k or IRA. We pay taxes on our capital gains as wages at an average rate of 36%. I know we did not pay taxes on our...
In the U.S., when a farmer sells their crops to a large distributor such as a food co-op, mill, etc., does the large distributor pay any taxes on the crop they are buying? And if so, where do those taxes go?