Question
Required information [The following information applies to the questions displayed below.] Eva received $60,000 in compensation payments from JAZZ Corp. during 2018. Eva incurred $5,000
Required information
[The following information applies to the questions displayed below.] Eva received $60,000 in compensation payments from JAZZ Corp. during 2018. Eva incurred $5,000 in business expenses relating to her work for JAZZ Corp. JAZZ did not reimburse Eva for any of these expenses. Eva is single and she deducts a standard deduction of $12,000. Based on these facts answer the following questions: Use Tax Rate Schedule for reference.
a. Assume that Eva is considered to be an employee. What is her regular income tax liability for the year? (Round your final answer to 2 decimal places.)
Regular Tax Liability-------------------------?
b)Assume that Eva is considered to be a self-employed contractor. What is her regular tax liability for the year? (Round your intermediate computations and final answer to the nearest whole dollar amount.)
Regular Tax Liability--------------------------------?
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