Here’s another tax tidbit from Ron Mueller’s newsletter…

As of Jan. 1 the Social Security portion of FICA and Self Employment taxes will apply to all income up to $97,500 (up from $94,200 in 2006).

Here’s how the math works… If you make more than $97,500 in wages, you and your employer will each pay an additional $204.60. If you pay self-employment taxes and make more than $97,500, you’ll ante up an additional $409.20 next year.

It’s How Much You KEEP, That Counts! Not how much you Make