Clown-Free Zone... sorry, no clowns allowed Message Board

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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: patron_anejo_por_favor who wrote (222279)	2/18/2003 5:53:39 PM
From: Skeeter Bug	Read Replies (2) of 436258

guys, gals and those that have questions (-lol-)... i have a tax questions. let's say i have a job and it pays me $70k. let's say the income limit on social security is $80k for simplicity (mine! i don't want to look it up.) if i start an llc company and earn $50k (still maintaining my regular j-o-b) from earnings (not salary from the llc), will the social security maximum apply to BOTH jobs or once to my job and once to my llc? iow, would i pay social security taxes on $80k of my total "earnings" (job salary and company earnings) or do i pay social security tax on all $120k? tia...

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