1. What exemptions may be taken on Federal Income Taxes?
2. Who pays Social Security taxes to the FICA?
2007-05-30 12:25:39 · 2 answers · asked by Tiffany 1 in Business & Finance ➔ Taxes ➔ Other - Taxes
Thank you!
2007-05-30 12:35:08 · update #1
Actually, the employee pays half of the social security and medicare tax, and the employer pays a matching amount.
Exemptions may be taken for yourself, a spouse, and any other persons who meet the legal definition of dependents. While these will usually be members of your household, that's not always the case. And if you are a dependent of someone, such as your parents, you can't take the exemption for yourself.
2007-05-30 12:49:18 · answer #1 · answered by Judy 7 · 2⤊ 0⤋
1. The number of dependents (including you) in your household.
2. The employee pays social security taxes.
2007-05-30 12:29:48 · answer #2 · answered by jalanrosh 2 · 0⤊ 2⤋