Question
Suppose you are the tax consultant for Bob and Jane. Bob was employed as an engineer and made $148,328 in wage income in 2018. Jane
Suppose you are the tax consultant for Bob and Jane. Bob was employed as an engineer and made $148,328 in wage income in 2018. Jane owned a design studioa and made $87,138 from the business in 2018. Bob and Jane invested in stocks and make $4,900 in capital gains in 2018. Bob and Jane filed joint-tax returns in 2018. The maximum taxable earning for OASDI tax in 2018 was $128,400.
Find the total OASDI taxes that Bob and Jane needed to pay in 2018. Round up your answer to the nearest cent.
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Fundamentals of Corporate Finance
Authors: Richard Brealey, Stewart Myers, Alan Marcus
7th edition
978-0077616472, 77616472, 78034647, 978-0071314749, 71314741, 978-0078034640
