wages amounting to $102,200. His net earnings from self employment amount to $28,600. Talbot must count $26,200 of his earnings in determining taxable self-employment income for OASDI taxes. FICA Taxable Wage Base Wages Received Taxable Self-Employment Income $128,400 $102,200 $26,200 Ralph Henwood was paid a salary of $64,600 during 20-- by Odesto Company. In addition, during the year Henwood started his own business as a public accountant and reported a net business income of $70,000 on his income tax return for 20, Compute the following: a. The amount of FICA taxes that was withheld from his earnings during 20- by Odesto Company. OASDI 4,005.20 HI 936.70 7,440 X 1,740 | X OASDI HI a. Multiply earnings by correct OASDI and HI rate. b. Multiply self-employment income, by OASDI and HI rates for self-employed individual. (Note: consider the OASDI ceiling.) Next