Offshore tax evasion is crime in several onshore countries and includes jail time so it end up being avoided. On the additional hand, offshore tax planning is Attain a great crime. The 'payroll' tax applies at a hard and fast percentage of your working income - no brackets. For employee, pay out 6.2% of one's working income for Social Security (only up to $106,800 income) and sole transfer pricing .45% of it for Medicare (no limit). Together they take one more 7.65% of the income. There i...