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URL: https://boards.fool.com/i-wonder-if-he-got-that-figure-by-the-old-canard-30497833.aspx
Subject: Re: I May Open My Veins	Date: 1/21/2013 5:01 PM
Author: Wradical	Number: 117483 of 132126
i wonder if he got that figure by the old canard of adding up all the marginal rates + sales tax (+ property tax?) especially outrageous would be the self-employed (?) 15% FICA on the first 115K of his 45 million ================================== Well, the 15.3% Self-employment tax rate (13.3% in 2012) is two numbers: 12.4% of Social Security and 2.9% for Medicare. The 12.4% applies up to the FICA limit. The Medicare rate is umlimited. Of course it's possible that some or most of his endorsement income - for use of his name, image, etc., might be characterized or reportable as a royalty, and if so, it's not self-employment income. Better yet, maybe it's payable to his trust in Bermuda. With clients like that, there's always good possibilities. Bill
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