Owners of standard 403(b) plans can deduct or exclude contributions to the plans from their incomes for tax purposes, but they still have to pay Medicare and Social Security taxes on the contributions, reports the Intern... More »

A Pearson 401(k) retirement plan is a retirement benefits plan where an employee allocates a percentage of his pay check to the plan. These contributions are tax deductible. Employees who are 59½ years or older are exemp... More »

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The 2010 contribution limit for a traditional IRA, or individual retirement account, is $5,000. Those who turned 50 that year could contribute an additional $1,000, for a total of $6,000. More »

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Self-employment tax consists of Social Security and Medicare taxes, mostly from people who work for themselves, according to the Internal Revenue Service. It is the same as the Social Security and Medicare taxes deducted... More »

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Individual can find forms, instructions and publications that deal with individual income taxes, excise tax returns, earned income credits, charitable contributions and supplemental income or loss on the Internal Revenue... More »

The Federal Insurance Contributions Act is the combined total of Social Security and Medicare taxes, and it is applied to gross wages, according to the Internal Revenue Service. The Social Security tax rate is 12.4 perce... More »

A taxpayer who claims exempt on a W-4 form turned into an employer has Social Security and Medicare taxes taken out of a regular paycheck, according to the Internal Revenue Service. As of 2014, the Social Security tax ra... More »