George Talbot receives wages amounting to $116,600. His net earnings from self-employment amount to $28,600. Talbot must count $26,200 of his earnings in determining taxable self-employment income for OASDI taxes. OASDITaxableWageBase-WagesReceived=OASDITaxableSelf-EmploymentIncome$142,800$116,600=26,200 Ralph Henwood was paid a salary of $64,600 during 20 by Odesto Company. In addition, during the year Henwood started his own business as a public accountant and reported a net business income of $80,000 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 5 HI b. Henwood's self-employment taxes on the income derived from the public accounting business for 20--. OASDI 55xx Feedtbsck T Check My Wark a. Multiply earnings by correct OASDI and HI rate. b. Multiply self-employment income, by OASDI and HI rates for self-employed individual. (Note: consider the OASDI ceiling.)