by Ekrem Duman | Jun 20, 2026 | Country Tax Guides, US Tax
Accounting › Country Tax Guides › US Tax ⚡ TL;DRSelf-employed people pay self-employment (SE) tax — 15.3% on net earnings, covering both the employee and employer shares of Social Security (12.4% up to $176,100 in 2025) and Medicare (2.9%, uncapped). You...
by Ekrem Duman | Jun 20, 2026 | Country Tax Guides, US Tax
Accounting › Country Tax Guides › US Tax ⚡ TL;DRFICA payroll taxes fund Social Security and Medicare. For 2025, employees and employers each pay 6.2% Social Security on wages up to $176,100, plus 1.45% Medicare on all wages — 7.65% each. High earners pay...
by Ekrem Duman | Jun 20, 2026 | Country Tax Guides, US Tax
Accounting › Country Tax Guides › US Tax ⚡ TL;DRTax credits cut your tax bill dollar for dollar, making them more valuable than deductions. The biggest for families are the Child Tax Credit (CTC) and the Earned Income Tax Credit (EITC), which can be...
by Ekrem Duman | Jun 20, 2026 | Country Tax Guides, US Tax
Accounting › Country Tax Guides › US Tax ⚡ TL;DRForm 1040 is the standard US individual income tax return. You report income, claim the standard or itemized deductions, calculate tax, apply credits, and reconcile against tax already withheld to find your...
by Ekrem Duman | Jun 20, 2026 | Country Tax Guides, US Tax
Accounting › Country Tax Guides › US Tax ⚡ TL;DRYour filing status — single, married filing jointly (MFJ), married filing separately (MFS), or head of household (HoH) — determines your tax brackets, standard deduction and eligibility for credits. Most...
by Ekrem Duman | Jun 20, 2026 | Country Tax Guides, US Tax
Accounting › Country Tax Guides › US Tax ⚡ TL;DREvery taxpayer chooses between the standard deduction — a flat amount ($15,750 single, $31,500 married filing jointly for 2025) — or itemizing specific deductions like mortgage interest, state and local...
