FEDERAL INCOME TAX CALCULATOR

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The Federal Insurance Contributions Act (FICA) tax rate, which is the combined Social Security tax rate of 6.2% and the Medicare tax rate of 1.45%, will be 7.65% for 2020 up to the Social Security wage base. … In 2020, the maximum Social Security tax for a self-employed individual will be $17,074.80.

Question:

Would you Invest $5,000 each year?…
( if it could save half your tax?
)

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