Question: My son lives in Arizona and receives pension income from the Arizona Retirement System (ARS). He is 64 years old and is now single with no dependents. The ARS allows him to purchase health ...
Self-employed individuals must pay self-employment tax to cover their Social Security and Medicare taxes. The rate for this tax is 12.4% for Social Security and 2.9% for Medicare, for a total of 15.3% ...
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