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Eva received $76,000 in compensation payments from JAZZ Corp. during 2020. Eva incurred $17,500 in business expenses relating to her work for JAZZ Corp.
Eva received $76,000 in compensation payments from JAZZ Corp. during 2020. Eva incurred $17,500 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 $12,400. Based on these facts, answer the following questions: Use Tax Rate Schedule for reference.(Leave no answer blank. Enter zero if applicable.) c. Assume that Eva is considered to be a self-employed contractor. What is her self-employment tax liability and additional Medicare tax liability for the year? (Round your intermediate computations & final answers to the nearest whole dollar amount. Leave no answer blank. Enter zero if applicable.) Answer is complete and correct. Self-employment tax liability S 8,266 Additional medicare tax liability $ 0 d. Assume that Eva is considered to be a self-employed contractor. What is her regular tax liability for the year? (Round your intermediate computations and final answer to the nearest whole dollar amount.) X Answer is complete but not entirely correct. Regular tax liability S 5,023 X
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