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1 Andrea has wages of $95,000 and net income from a small unincorporated business of $40,000 for 2019. (Click on the icon to view the
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Andrea has wages of $95,000 and net income from a small unincorporated business of $40,000 for 2019. (Click on the icon to view the self-employment tax rate table.) Requirements a. What is the amount of Andrea's self-employment (SE) tax and deduction for AGI for her SE tax? b. How would your answer to Part a change if Andrea's wages were $ 155,000 rather than $95,000? Requirement a. What is the amount of Andrea's self-employment (SE) tax and deduction for AGI for her SE tax? Begin by completing the table below to show Andrea's SE tax for 2019 and then enter her deduction for AGI for her SE tax. (Round all currency amounts to the nearest whole dollar. Abbreviations used: OASDI = old-age, survivors, and disability insurance; HI = hospital insurance [Medicare].) SE tax for OASDI i Reference SE tax for HI Total SE tax Category Rate 12.4% OASDI Dollar Limit $132,900 First $200,000 of self-employment income ($250,000 combined self employment income for joint returns) Self-employment income greater than $200,000 ($250,000 for joint returns) Medicare 2.9% Medicare 3.8% En op Andrea has wages of $95.000 and net income from a small incorporated business of $40.000 for 2019 Cick on the loon to view the self-employment tax rate table) Requirements a. What is the amount of Andrea's self-employment (SE) tax and deduction for AGB for her sex? b. How would your answer to wachange it Andrea's wages were 18.000 rather than 105.000 SE ? Requirement. What is the amount of Andrea's employment () tax and deduction for AGIM Begin by completing the table below to show Andrea's Ex for 2018 and enter her deduction nuance: Hihopalance Medical Al for her Round a n y amount to rest whole da Abreviations et OASO unor and SE tax for OASDI SE tax for Reference Total se tax Category OASI Rate 12.4% Dollar Limit $132.900 First $200,000 of employment income ($250,000 combined sol employment income fortrolumns) Sell employment income greater than $200,000 ($250,000 forint retums) Medicare 2.9% 3.8% Print DoneStep by Step Solution
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