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Derrell is an employee of whitney's. During 2020, Darref's satary is $136,000. Whitney's net self-employment income is also 5136,000 . Complete the letter below to
Derrell is an employee of whitney's. During 2020, Darref's satary is $136,000. Whitney's net self-employment income is also 5136,000 . Complete the letter below to Whitney in which you state how much she will have to pay in Social Secunty and self-employment taxes and why she owes those amounts.. Round intermediate computations and your final answer to the nearest dollar. Dear Whitney, Per your request, let me outine the nuances that differentiate Darrelis withholding and yours. The Social Security tax is imposed en employees and seif-employed individuals. As an employer, you are requared to cansidered ! employes payments into the system. Also, as a self-employed individual, for purposes of FicA, you are. Under the Oid Age, Survivors, and Disability insurance (OAsD), a tax of. is levied an Based on the intormation provided, you will withhold for Darrell Social Secuitiv tanes of 1 X and as his employer. reme your portion of 1x aloog with his withholding. As for vour Social security taxes, your seif-employment tax Don't hesitate to contact me it you have any additional questions
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