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Arnold is single and works for Timberlake Corporation. Arnold received the following compensation and benefits in 2020. Salary for $100,000 Bonus for $30,000 Tuition reimbursement

Arnold is single and works for Timberlake Corporation. Arnold received the following compensation and benefits in 2020.

Salary for $100,000

Bonus for $30,000

Tuition reimbursement for $7,000

Employer-paid Health Ins. of $6,000

Restricted stock-600 shares with FMV of $10 per share

Upon consultation with his CPA, Arnold made the 83b election in relation to his restricted stock.

Calculate Arnold's taxable compensation for 2020 and the amount of social security and medicare tax he will pay on that compensation.

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