You are self-employed and report a taxable income of $120,000 in 2010. The Social Security tax rate for that year is 12.4% up to $106,800. How much, in dollars, do you pay toward the Social Security tax?

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You are self-employed and report a taxable income of $120,000 in 2010. The Social Security tax rate for that year is 12.4% up to $106,800. How much, in dollars, do you pay towar…

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