Question
Eva received $62,000 in compensation payments from JAZZ Corp. during 2019. Eva incurred $5,000 in business expenses relating to her work for JAZZ, Corp. JAZZ
Eva received $62,000 in compensation payments from JAZZ Corp. during 2019. Eva incurred $5,000 in business expenses relating to her work for JAZZ, Corp. JAZZ did not reimburse Eva for any of these expenses. Eva is single and she deducts a standard deduction of $12,200
A-Assume that Eva is considered to be an employee. What amount of FICA taxes is she required to pay for the year?
B- Assume that Eva is considered to be an employee. What is her regular income tax liability for the year?
C-Assume that Eva is considered to be self-employed. What amount of self-employment taxes is she required to pay for the year?
D-Assume that Eva is considered to be self-employed. What is her regular income tax liability for the year?
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SAP S/4HANA Financial Accounting Certification Guide
Authors: Stefanos Pougkas
1st Edition
1493215507, 978-1493215508
