Question
Kyle, a single taxpayer, worked as a freelance software engineer for the first three months of 2023. During that time, he earned $50,000 of self-employment
Kyle, a single taxpayer, worked as a freelance software engineer for the first three months of 2023. During that time, he earned $50,000 of self-employment income. On April 1, 2023, Kyle took a job as a full-time software engineer with one of his former clients, Hoogle Incorporated From April through the end of the year, Kyle earned $196,000 in salary.
What amount of FICA taxes (self-employment and employment related) does Kyle owe for the year?
Note: Round your intermediate calculations and final answer to the nearest whole dollar amount.
Step by Step Solution
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Step: 1
To calculate the FICA taxes that Kyle owes for the year we need to consider both the selfemployment ...
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Essentials Of Federal Taxation 2018
Authors: Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver
9th Edition
1260007642, 978-1260150292, 1260150291, 978-1260007640
