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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

image text in transcribed 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. OASDITaxableWageBaseWagesReceived=OASDITaxableSelf-EmploymentIncome$142,800$116,600=$26,200 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 HI $ b. Henwood's self-employment taxes on the income derived from the public accounting business for 20--. OASDI $x

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