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Brooke, a single taxpayer, works for Company A for all of 2020, earning a salary of $74,000. a. What is her FICA tax obligation for
Brooke, a single taxpayer, works for Company A for all of 2020, earning a salary of $74,000. a. What is her FICA tax obligation for the year? FICA tax obligation b. Assume Brooke works for Company A for half of 2020, earning $74,000 in salary, and she works for Company B for the second half of 2020, earning $114,000 in salary. What is Brooke's FICA tax obligation for the year? (Round your intermediate calculations to the nearest whole dollar amount.) FICA tax obligation This year Lloyd, a single taxpayer, estimates that his tax liability will be $10,150. Last year, his total tax liability was $15,100. He estimates that his tax withholding from his employer will be $7,895. a. How much does Lloyd need to increase his withholding by (for the year), in order to avoid the underpayment penalty? Increase in withholding
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