Question
Self-Employed Social Security Taxes (LO. 2) For 2019, Eric is a self-employed financial consultant. During the current year, Eric's net self-employment income is $160,000. The
Self-Employed Social Security Taxes (LO. 2)
For 2019, Eric is a self-employed financial consultant. During the current year, Eric's net self-employment income is $160,000. The OASDI rate is 6.2%; the MHI rate is 1.45%.
Hint: OASDI 6.2% tax is on the first $132,900 for the year.
Note: Round all calculations to the nearest cent.
What is Eric's self-employment tax?
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Internal Auditing In Plain English A Simple Guide To Super Effective ISO Audits
Authors: Craig Cochran
1st Edition
1932828168, 978-1932828160
