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Problem 8-67 (LO 8-3) (Algo) Kyle, a single taxpayer, worked as a freelance software engineer for the first three months of 2021. During that time,
Problem 8-67 (LO 8-3) (Algo) Kyle, a single taxpayer, worked as a freelance software engineer for the first three months of 2021. During that time, he earned $88,000 of self-employment income. On April 1, 2021, 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 $204,000 in salary What amount of FICA taxes (self-employment and employment related) does Kyle owe for the year? (Round your intermediate calculations to the nearest whole dollar amount.) Self-employment/FICA tax ! Required information Problem 8-70 (LO 8-4) (Algo) (The following information applies to the questions displayed below.] Trey has two dependents, his daughters, ages 14 and 18, at year- end. Trey files a joint return with his wife. What amount of child tax credit (either as a child or a qualifying dependent) will Trey be able to claim in 2021 for his daughters under each of the following alternative situations? Use Exhibit 8-8. Problem 8-70 Part-b (Algo) b. His AGI is $424,800. Amount of child tax credit
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