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10-17-2008, 12:31 AM
| | Junior Member | | Join Date: Oct 2008
Posts: 5
| | | Why ministers are subject to $108.28
What is the name of your state (only U.S. law)? ca
Would any body know the reason why ministers are subject to tax after $108.28. What is the significance in that particular number.
Why not $105 or $110? |
10-17-2008, 01:14 AM
| | Member | | Join Date: Aug 2008 Location: Virginia
Posts: 653
| | | I don't have any idea what you are talking about, but weird numbers like that generally come from applying cost-of-living adjustments (COLAs) to an original number that started out nice, like $100 or $75 or $50.
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10-17-2008, 08:23 AM
| | Member | | Join Date: Sep 2006 Location: Panama City, FL
Posts: 883
| | | This comes right from IRS schedule 1040SE --- check the instructions & form...
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10-17-2008, 09:02 AM
| | Senior Member | | Join Date: Feb 2007
Posts: 8,231
| | | It's a $100 plus the 8.28% effective part of the SS/Medicare tax. |
10-17-2008, 03:47 PM
| | Junior Member | | Join Date: Oct 2008
Posts: 5
| | | How or where do you find the 8.28%? |
10-17-2008, 03:50 PM
| | Senior Member | | Join Date: Aug 2005 Location: St. Odo of Cluny Parish
Posts: 29,043
| | Quote:
Originally Posted by cotogirl  What is the name of your state (only U.S. law)? ca
Would any body know the reason why ministers are subject to tax after $108.28. What is the significance in that particular number.
Why not $105 or $110? | Any question beginning with "Why does the government..." are answered by: Who knows?
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(1) Never tell everything you know.
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10-17-2008, 03:55 PM
| | Senior Member | | Join Date: Feb 2007
Posts: 8,231
| | | I found it the 8.28% in a book on tax issues for churches. Google books hit it. |
10-17-2008, 05:58 PM
| | Junior Member | | Join Date: Oct 2008
Posts: 5
| | | I hate to be a bother, but could you be a little more specific. I have been searching the web for hours trying to find answers to this question. If you could just tell me exactly were you got that info it would be a huge help.
I have even called the IRS and they don't have an answer for me. As far as they are concerned all self employed people are subject to 15.3% tax.
Any info would be helpful and very much appreciated. |
10-17-2008, 06:29 PM
| | Senior Member | | Join Date: Feb 2007
Posts: 8,231
| | Quote:
Originally Posted by cotogirl I have even called the IRS and they don't have an answer for me. As far as they are concerned all self employed people are subject to 15.3% tax. | The 8.28% is the employers share of the SS/MEDICARE.
What difference does it make? |
10-17-2008, 06:34 PM
| | Senior Member | | Join Date: May 2004
Posts: 41,303
| | Quote:
Originally Posted by cotogirl I hate to be a bother, but could you be a little more specific. I have been searching the web for hours trying to find answers to this question. If you could just tell me exactly were you got that info it would be a huge help.
I have even called the IRS and they don't have an answer for me. As far as they are concerned all self employed people are subject to 15.3% tax.
Any info would be helpful and very much appreciated. | Why is the answer to "why?" so important? I am not sure that you are going to find a true "why"...other than "Because Congress said so".
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10-17-2008, 06:46 PM
| | Senior Member | | Join Date: May 2000 Location: Catatonic State
Posts: 75,781
| | | Read the Bible for the answer to why. |
10-17-2008, 06:47 PM
| | Junior Member | | Join Date: Oct 2008
Posts: 5
| | | This may sound silly or trival to most, but I am doing a tax preparing class / course and one of our assignments for extra credit is to find out why.
Please don't think that I am taking the easy way out by asking, I have been searching the internet for hours.
I could easily take the answer that was given and run with it, but I want to find evidence to back it up. |
10-17-2008, 06:48 PM
| | Senior Member | | Join Date: May 2000 Location: Catatonic State
Posts: 75,781
| | Quote:
Originally Posted by cotogirl This may sound silly or trival to most, but I am doing a tax preparing class / course and one of our assignments for extra credit is to find out why.
Please don't think that I am taking the easy way out by asking, I have been searching the internet for hours.
I could easily take the answer that was given and run with it, but I want to find evidence to back it up. | **A: we don't do homework. |
10-18-2008, 01:13 AM
| | Senior Member | | Join Date: Feb 2005
Posts: 3,346
| | Quote: |
Please don't think that I am taking the easy way out by asking, I have been searching the internet for hours.
| And perhaps your teacher is trying to teach you - not everything can be found in a google search. There are libraries and there are experts. Find one. |
10-18-2008, 11:01 AM
| | Senior Member | | Join Date: Feb 2007
Posts: 8,231
| | | Figure out what the employee and employer shares of the SE / FICA / MEDICARE taxes are .
Combine them in different ways, one will give you 8.28%. Now see if you can intuit while that is figured into the cap. Think "net takehome pay" | |
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