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Discover the importance of taxes and where your money goes at the end of this story.

FICA section on pay slip for Social Security, Medicare

How TO Convert $50 into $831 in 10 Days?

Social Security's OASDI benefits seniors, the disabled, and families.

Medicare for Americans 65 and older.

W-4 form for federal income tax withholding.

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OASDI takes 6.2% of the first $160,200 wages for 2023.

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Medicare takes 1.45% of taxable wages and 0.9% for some high earners.

How to protect your family from this unstoppable threat?

Federal withholding is based on W-4, and state withholding varies by state.

Total gross pay, employer-paid benefits, pre-tax and post-tax deductions.

Net pay after all taxes and deductions.

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