Richardson Company is in its first year of operations as a hardware and software retailer (with occasional consulting jobs). Richardson reports the following current year results (without respect to the type of entity): Business Income: Sales (net of returns and allowances) $ 490,000 Gross Consulting Fees Collected 30,000 Dividend Income (5% investment in Novice Software Co.) 4,000 Loss on Sale of Novice Stock ($28,000 - $33,000, held 11 months) ( 5,000) Business Expenses and Costs: Cost of Goods Sold (142,200) Salaries of 5 employees other than owner Tony Richardson ($30,000 each) (150,000) Payroll taxes paid on employees [($150,000 x .0765) + ($35,000 x .062)] ( 13,645) Health insurance coverage for employees ($3,000 x 5) ( 15,000) Retirement plan contributions for employees (10% of salaries) ( 15,000) MACRS depreciation on various company assets ( 35,748) Interest, rent, utilities, insurance, supplies, and miscellaneous expenses ( 59,337) Contributions to public charities ( 13,300) Compensation to Owners of Business: Reasonable salary compensation to Tony Richardson ( 65,000) Other cash payments to owners ( 20,000) Health insurance coverage for Tony Richardson ( 3,000) Retirement plan contribution for owner (10% of reasonable salary) ( 6,500) Tony and Ellen Richardson (both age 53) file a joint federal income tax return in the current tax year. They do not have any dependents. In addition to any compensation/income from the business described above, Ellen received a salary of $41,300 from ED Industries. Tony and Ellen also received $1,400 personal interest on a joint account, $1,200 personal dividends from jointly-held Thomson Company stock, and $9,200 from the sale of 100 shares of Thomson stock (originally acquired 5 years ago for $3,100). Tony and Ellens personal expenses for the year include $2,600 personal property taxes, $12,400 state income taxes, 10,300 charitable contributions (not including the amounts mentioned above), $8,800 interest on personal home mortgage, and $2,600 of unreimbursed employee expenses by Ellen.

Assuming that Richardson Company is operated as a partnership (assuming that Tony Richardson is essentially a 100% partner, with a minimal interest held by Ellen), determine the Richardsons final federal income tax liability (including any self-employment tax). For these purposes, allocate 100% of all partnership items to Tony Richardson. Determine the self employment taxes paid by TR, the federal income tax paid by the Richardson's, and the total taxes.