Video: What Is Social Security Tax?
Social security tax is collected by the government to fund the benefits of retirees and those unable to work. Both employers and employees contribute to this tax. If you’re self-employed, you pay both the employer and employee portions of the Social Security tax. Discover how much you owe in Social Security taxes with help from TurboTax in this video.
Video transcript:
Ever wonder what the Social Security tax is? In this edition of Tax Tips by TurboTax, we'll explore it's for, how you pay it, and how much you owe.
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