He’s the co-author of Day Trading For Canadians For Dummies and contributes to the Globe and Mail, Business magazine, the Toronto Star, MoneySense and other leading Canadian publications. Upgrading to a paid membership gives you access to our extensive collection of plug-and-play Templates designed to power your performance—as well as CFI’s full course catalog and […]
Category Archives: Bookkeeping
Accounting Examples of Long-Term vs Short-Term Debt The Motley Fool
Previously he was vice-president, content and editorial, of Morningstar Canada. Andrew Bell was an investment reporter and editor with The Globe and Mail for 12 years. Bell, an import from Dublin, Ireland, was for 10 years the main compiler of Stars & Dogs in Saturday’s Globe. The roundup of hot and damp stocks and mutual […]
The Complete Guide to FICA and Medicare Taxes: Everything to Know
Howwever, you can claim credits against your gross FUTA tax to reflect the state unemployment taxes that you pay. You’re allowed to claim a 5.4% credit that effectively reduces your FUTA tax rate to 0.6% if you pay your state unemployment taxes when they’re due. From the employee’s perspective, the 0.9 percent Medicare surtax is […]
Medicare Wages: Definition, How They’re Taxed, Limits, and Rates
Unlike Social Security taxes, your Medicare taxes don’t have a wage limit. If you earn more than $147,000, you’ll pay Medicare taxes on the full amount. If you’re self-employed you’re required to pay Social Security and Medicare taxes on your net earnings—your gross income minus deductions. But instead of paying FICA taxes, you’re required to […]