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Author Question: Tanya has earnings from self-employment of $240,000, resulting in self-employment tax of $21,122 and ... (Read 89 times)

HCHenry

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Question 1

Self-employment taxes include components for
◦ Medicare hospital insurance and SUTA.
◦ Social Security and FUTA.
◦ FICA and FUTA.
◦ Social Security and Medicare hospital insurance.

Question 2

Tanya has earnings from self-employment of $240,000, resulting in self-employment tax of $21,122 and Additional MedicareTax of $360. Due to these taxes, Tanya will be allowed a deduction for AGI of
◦ $10,741.
◦ $21,482.
◦ $10,561.
◦ $21,122.


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Marked as best answer by HCHenry on Sep 13, 2020

Edwyer

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HCHenry

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Reply 2 on: Sep 13, 2020
Great answer, keep it coming :)


cam1229

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

 

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