Is the 7.65% social security allowance hard and fast or can a different amount be offered

by Annie Spalding
(Harrisburg, PA)

Is the 7.65% social security allowance hard and fast or can a different amount be offered?

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Is the 7.65% social security allowance hard and fast or can a different amount be offered
by: Anonymous - MN

It has been figured and suggested by Jim Rickerts that 9.8% be used as the employer allowance to cover what would be normal employer half of the SET. 7.65% is the employer half and the balance of the 9.8% should cover the income tax on the allowance.
SECA Allowance
by: Vickey

A social security allowance (sometimes called a SECA Allowance) is taxable income and MUST be included in Box 1 of a recipient's W-2, so a governing body can set any amount it wants to... for that taxable compensation.

Quick note... since it is taxable compensation... 7.65% of just his salary will not cover the total amount owed for the self employment (social security) tax as they will owe 7.65% SECA tax on that SECA Allowance amount as well =(

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