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If you make under $184k, you pay a 12.4% Social Security tax rate. Everything after that cap is exempt from the tax. So if you make $1 million per year, you pay about 2.2%. And it's 0.002% for billionaires. If we lifted the cap, Social Security could be funded for decades.
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Two of the six Scottish income tax bands will be raised by 7.4%, meaning 55% of workers in Scotland will pay less tax than if they were living elsewhere in the UK. #IncomeTax #Working #Money #ScottishBudget #Scotland #BBCNews
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Holding the right dividend ETFs in the wrong account is one of the quietest ways retirees give back five and six figures of after-tax return over a 20 year horizon. In this video I lay out the 5 laws of dividend ETF account placement: which funds belong in your taxable brokerage to capture qualified dividend rates, which belong inside a traditional IRA where ordinary-income distributions get sheltered, and which belong in your Roth IRA so the tax-free compounding does the heaviest lifting. I cov
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