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You still pay that. And yes, it's wrapped up in that $30. Yes, someone is providing a 'service' for 30% of your billing, but you can't shop around to get better
by delinka 8y ago
You still pay that. And yes, it's wrapped up in that $30. Yes, someone is providing a 'service' for 30% of your billing, but you can't shop around to get better and/or less expensive service.
- Dylan16807 8y ago> You still pay that. And yes, it's wrapped up in that $30. That's a confusing way of putting it. > Yes, someone is providing a 'service' for 30% of your billing And that's pretty misleading as a followup. You're paying them 30% to perform services and to pay that 9% tax for you. So you're effectively paying closer to 21% for their services. That's still a lot. But it's significantly less.
- bsimpson 8y agoA quick search of Wikipedia says the employer's share of FICA is 7.65% of the employee's gross wages: https://en.wikipedia.org/wiki/Federal_Insurance_Contributions_Act_tax#Regularly_employed_people https://en.wikipedia.org/wiki/Federal_Insurance_Contribution...