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25% deduction

Posted By: CAMT on 2005-10-19
In Reply to: If all you have to do is type.... - WA

So, I'm not real clear, are you saying you are a statutory status worker and thus federal is deducted which is what ?? 25% and is withheld.  If you were and IC independent contractor, nothing is withheld and you send in the taxes on your own. . Employee and statutory have all or some taxes taken out.

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Deduction is 100%, not 50.
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the SEP IRA is a huge deduction...
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