Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Required information [ The following information applies to the questions displayed below ] Eva received $ 8 2 , 0 0 0 in compensation payments

Required information
[The following information applies to the questions displayed below]
Eva received $82,000 in compensation payments from JA Corporation during 2023. Eva incurred $15,500 in business expenses relating to her work for JAZZ Corporation JAZZ did not reimburse Eva for any of these expenses. Eva is single and deducts a standard deduction of $13,850.Based on these facts, answer the following questions:
Use Tax Rate Schedule for reference.
Note: Leave no answer blank. Enter zero if applicable. Round your
intermediate and final answers to the nearest whole dollar amount.
c. Assume that Eva is considered to be a self-employed contractor. What are her self-employment tax liability and additional Medicare tax liability for the year?
i just need help with the self-employment tax liability
answer is NOT 7615
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

blur-text-image

Step: 3

blur-text-image

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

Management Accounting

Authors: Will Seal, Carsten Rohde, Ray Garrison, Eric Noreen

6th Edition

0077185536, 978-0077185534

More Books

Students also viewed these Accounting questions

Question

Enumerate the items most commonly classified as current assets.

Answered: 1 week ago

Question

Explain social supports impact on an individuals physical health.

Answered: 1 week ago

Question

What are their resources?

Answered: 1 week ago