Chapter 13 Post-Quiz Due November 1 il eBook Calculator 1. DQ.13-03 2. DQ.13-08 3. EX.13-27 4. EX.13-31 5. PR.13-37 Exercise 13-31 (LO. 5) Bill owns 100% of an S corporation. This year, the corporation paid Bill a salary of $100,000. Bill's share of S corporation income for the year was $42,000. Assuming this is Bill's only income for the year. Assume the Social Security rate is 6.2% and Medicare rate is 1.45%. If an amount is zero, enter "O". If required, round your answers to nearest dollar a. What amount that Bill received is subject to payroll taxes? 100,000 To self-employment taxes? 3,213 b. Compute Bill's payroll and self-employment income taxes. Bill's payroll taxes Self-employment income taxes 7,650 4,099