3 ms·
And even saying "federal income taxes" is misleading because FICA are federal income taxes paid by everyone who earns wages.
by TheCoelacanth 5y ago
And even saying "federal income taxes" is misleading because FICA are federal income taxes paid by everyone who earns wages.
- rufus_foreman 5y agoFICA is a payroll tax, not an income tax. You don't pay FICA on dividends, capital gains, interest, rental income, pensions, Social Security, etc. But they are subject to the federal income tax.
- TheCoelacanth 5y agoYou don't pay income tax on capital gains either. You pay capital gains tax.
- deleted 5y ago[deleted]
- rufus_foreman 5y agoCapital gains are income. What bucket do you account for them in?