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Wrap your mind round this'un
"Harryk" wrote in message ... BAR wrote: Your babysitting daughter is in the 37% tax bracket? Independent contractor. She would be obligated to pay all of the SS and Medicare. That is 18 percent right off the top. Then the Fed gets their cut and the state will want their cut too. I'll just bet your babysitting kid is not paying federal taxes on her babysitting money. ************** Bertie 'deducts and remits it'. wink wink! |
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