Social Security Tax

Definition

Federal tax levied equally on employers and employees, used to pay for Social Security programs.

Use Social Security Tax in a sentence

You must always remember that some of the money that you think you earn will go into the social security tax.

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The social security tax as non negotiable for the business to operate in the USA so they embraced it as helping others.

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We hardly ever thought twice about the social security tax and how it was affecting our bottom line, but in the end the benefits outweighed the burden.

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taxable wage base 1040-SS Form