Question
Use the following tax rates and taxable wage bases: Employees' and Employer's OASDI6.2% both on $127,200; HI1.45% for employees and employers on the total wages
Use the following tax rates and taxable wage bases: Employees' and Employer's OASDI6.2% both on $127,200; HI1.45% for employees and employers on the total wages paid. Employees' Supplemental HI of 0.9% on wages in excess of $200,000 was not applicable.
Karlie Hastings is a writer (employee) for the Santa Fe Gazette and has an annual salary of $49,000. This year, she also realized net self-employment earnings of $85,000 from a book she wrote. What portion of her self-employment earnings is subject to the two parts of the social security tax?
a.OASDI taxable self-employment earnings $ b.HI taxable self-employment earnings $ c.OASDI self-employment tax $ d.HI self-employment tax
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