Example 3-5 George Talbot receives wages amounting to $106,700. His net earnings from self-employment amount to $28,600. Talbot must earnings in determining taxable self-employment income for OASDI taxes. OASDI Taxable Wage Base Wages Received OASDI Taxable Self-Employment Income $132,900 $106,700 $26,200 Ralph Henwood was paid a salary of $64,600 during 20-- by Odesto Company. In addition, during the year Henwood started his ow business as a public accountant and reported a net business income of $70,000 on his income tax return for 20 - Compute the following: a. The amount of FICA taxes that was withheld from his earnings during 20 - by Odesto Company. OASDI 4,005.20 HI 936.70 b. Henwood's self-employment taxes on the income derived from the public accounting business for 20- OASDI 1,740 X HI 2,030.00 Feedback