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1 5 - 6 1 ( LO 1 5 - 3 ) ( Algo ) his friend Stewart each owns 5 0 percent of KBS
LO Algo
his friend Stewart each owns percent of KBS During the year, Dave received $ compensat ed for KBS during the year. He performed a significant amount of work for the entity, and he was heavily ment decisions for the entity he was not a passive investor in KBS After deducting Dave's compensatic ncome of $
ch FICA andor selfemployment tax is Dave required to pay on his compensation and his share of the as a C corporation, an corporation, or a limited liability company taxed as a partnershipignore the e tax How much FICA tax would the entity be required to pay on the compensation paid to Dave? not round any percentage calculations. Round other intermediate calculations and final answers to nount.
Answer is complete but not entirely correct.
tableFICA Tax that Dave pays,FICA Tax that Entity paysporation$
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