Adam Fleeman a skilled carpenter started a home improvement business with Tom Collins, a master plumber. Adam and Tom are concerned about the payroll taxes they will have to pay. Assume they form an Scorporation and each earns a salary of $94,000 from the corporation, in addition, they expect their share of business profits to be $72,000 each How much Social Security tax and Medicare tax (or self-employment tax) will Adam, Tom, and their corporation have to pay on their salary and profits? (Assume Adam and Tom are paying themselves reasonable salaries.) FICA Tax Adam Tom S corporation