Question
1) Carol works for ABC Company and earned $64,500 for the entire year 2018. How much in FUTA tax is her employer required to withhold
1) Carol works for ABC Company and earned $64,500 for the entire year 2018. How much in FUTA tax is her employer required to withhold in her name? Assume that the employer receives the maximum credit for state unemployment taxes.
Choices:
A) $0
B) $435.00
C) $46.40
D) $42.00
2) Alice is single and self-employed in 2020. Her net business profit on her Schedule C for the year is $158,000. What is her self-employment tax liability and additional Medicare tax liability for 2020? (Round your final answer to the nearest whole dollar amount. Leave no answer blank. Enter zero if applicable.)
Self-Employment Tax Liability =
Additional Medicare Tax Liability =
3) Rasheed works for Company A, earning $360,000 in salary during 2020. Assuming he is single and has no other sources of income, what amount of FICA tax will Rasheed pay for the year? (Round your intermediate and final answer to the nearest whole dollar amount.)
Amount of FICA Tax =
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