Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Sep 30, 2024

if a taxpayer is self - employed and earns $ 1 6 5 , 0 0 0 what are the taxpayers fica taxes at a

if a taxpayer is self

-

employed and earns $

165, 000

what are the taxpayers fica taxes at a rate of

15.3 %

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Pioneers Of A Profession Chartered Accountants To 1879

Authors: Jas. C. Stewart

1st Edition

0367532557, 9780367532550

More Books

Students also viewed these Accounting questions

Question

How does XBRL facilitate Data Analytics by analysts?

Answered: 1 week ago

Question

★★★★★

Following are comparative balance sheets for Millco, Inc., at January 31 and February 28, 2011: Required: Prepare a statement of cash flows that explains the change that occurred in cash during the...

Answered: 1 week ago

Question

★★★★★

i need help Use the following data to find the direct labor rate variance if the company prodiced 6.500 units of procuct dufing the peniod. Standard: Direct labor (3.2 hours per unit 8$9/ hour)...

Answered: 1 week ago

Question

★★★★★

Ridge Forrester has a $433,500, 30-year mortgage at 5.4% compounded monthly. Find the monthly payment. Also find the unpaid balance after 10 years. Monthly payment = Unpaid balance after 10 years =

Answered: 1 week ago

Question

★★★★★

Five sequential operations have the following hourly production rates. A=150, B=175, C=95, D=88, E=120. What is the hourly throughput rate?

Answered: 1 week ago

Question

★★★★★

Tata Motors is primarily targeting emerging countries (e.g., Africa, Asia Pacific, Middle Eastern, and Latin America for its future exported growth.) Is this a viable and logical exporting strategy?

Answered: 1 week ago

Question

★★★★★

Olsen & Alain, CPAs (O&A) performed the audit of Rocky Point Brewery (RPB), a public company in 20X1 and 20X2. In 20X2, O&A also performed tax services for the company. Which statement best describes...

Answered: 1 week ago

Question

★★★★★

The City by the Bay Chocolate Company makes world-class chocolate. They are preparing their Finished Goods Inventory Budget for next year. Each box of chocolate they make has the following costs:...

Answered: 1 week ago

Question

★★★★★

Determine the value of a stock with the following variables using the constant growth model: Current annual dividend: $3.25 per share Required return rate: 6% Constant growth rate: 5.5% $689.00...

Answered: 1 week ago

Previous Question Next Question