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1. Sam and Esterina are married, file a joint return, and have two children, ages 9 and 11. Their combined AGI is $65,000. Sam's earned
1. Sam and Esterina are married, file a joint return, and have two children, ages 9 and 11. Their combined AGI is $65,000. Sam's earned income is $40,000; Esterina's is $25,000. They incur $6,500 of child care expenses to enable them to be employed during the current year. Their child and dependent care credit is
A) $1,200.
B) $1,300.
C) $1,800.
D) $6,000.
2. A wage cap does not exist for which of the following self-employment taxes?
A) Social Security tax
B) FICA
C) FUTA
D) Medicare hospital insurance
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