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Question 4 Juanita is the self-employed owner of Juanita's Linens. Her estimated annual earnings are $73,040 and she expects to pay 27% of this amount
Question 4Juanita is the self-employed owner of Juanita's Linens. Her estimated annual earnings are $73,040 and she expects to pay 27% of this amount in income tax. What will be her quarterly estimated tax payment for the third quarter? (For self-employed persons, social security tax is 12.4% of wages up to $106,800, and Medicare tax is 2.9% of all wages.)
a.$4,930.20
b.$529.54
c.$7,723.98
d.$2,264.24
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