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Please help Answer on Chegg is incorrect please show work thank you Andrea is an employee of Fern Corporation and single. She also has her
Please help
Answer on Chegg is incorrect please show work thank you
Andrea is an employee of Fern Corporation and single. She also has her own business working as a life coach. For 2022, Andrea's wages from Fern were $210,000. Her self-employment income was $30,000. If required, round any computations to two decimal places. Round final answers to the nearest dollar. a. Compute the total payroll, self-employment, and additional Medicare taxes for Andrea for 2022. X Feedback Theck My Work Payroll (employment) taxes can be a significant cost for a business and its owners. Such costs can be classified into two categories: FICA taxes (Social Security and Medicare) and (2) Self-employment tax. b. Assume the same facts except that Andrea's 2022 self-employment activities resulted in a loss of $15,000. Compute the total payroll, self-employment, and additional Medicare taxes for Andrea for 2022. X Feedback Check My Work Incorrect c. Compute Andrea's NIIT for 2022 using wages of $210,000, self-employment income of $30,000 and NII of $20,000. There are no expenses allocable to any investment income. $Step by Step Solution
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