stevenkhaauhs1740 stevenkhaauhs1740
  • 22-07-2020
  • Business
contestada

Alice is single and self-employed in 2019. Her net business profit on her Schedule C for the year is $100,000. What is her self-employment tax liability for 2019?

Respuesta :

stanfordgoddy stanfordgoddy
  • 24-07-2020

Answer:

$15,300

Explanation:

Remember, under the FICA Tax rate for 2019, the charge is 15.3% on first $132,900 of net income plus 2.9% on the net income in excess of $132,900. However, Alice net income is only about $100,000.

So, her Self employment tax liability =100,000 x 15.3% = $15,300 (since her net income doesn't exceed $132,900 we need not apply the 2.9% charge)

Answer Link

Otras preguntas

A bottle holds 48 tsp of vanilla. The amount of A of vanilla remaining in the bottle decreases by 2 tsp per batch b of cookies. what is the rule​
If you can buy meat at 43.75 for 5 pounds,find the unit price of meat how much would 7 pounds cost
Natalie invests £600 for 2 years at 10% per year compound interest. How much interest does she earn?
anyone answer this plzzz
whats the answer for 7^5/7^3=
still, now no one didn't answer my question but I help the brainly community​
The purpose of amendments to the United States Constitution has generally been to
the pta is ordering pizza for their next meeting. they plan to order 2 cheese pizzas for every 3 pepperoni pizzas they order. how many cheese pizzas will they o
The roller coaster has a mass of 600 kg and has a potential energy of 46,000J. What is the height of the roller coaster car?
If 1.) Gabby made a scale drawing of the Sam Houston statue in Huntsville, TX. The statue is actually 67 feet tall. Gabby's model used a scale of 1 inch = 20 fe