Question
George Parker was paid a salary of $74,700 during 20-- by Umberger Company. In addition, during the year, Parker started his own business as a
George Parker was paid a salary of $74,700 during 20-- by Umberger Company. In addition, during the year, Parker started his own business as a public accountant and reported a net business income of $60,000 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 Umberger Company.
| OASDI | $ |
| HI | $ |
b. Parker's self-employment taxes on the income derived from the public accounting business for 20--.
| OASDI | $ |
| HI | $ |
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Multinational financial management
Authors: Alan c. Shapiro
10th edition
9781118801161, 1118572386, 1118801164, 978-1118572382
