1. An individual has year-to-date earnings prior to the current period of $168,500, earns $3,600 this period, and files taxes as Single. Her self-employment taxes are $ _______.
1. An individual has year-to-date earnings prior to the current period of $168,500, earns $3,600 this period, and files taxes as Single. Her self-employment taxes are $ _______.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
1. An individual has year-to-date earnings prior to the current period of $168,500, earns $3,600 this period, and files taxes as Single. Her self-employment taxes are $ _______.
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2. As one of many independent contractors for an online news publisher, Betsy Hernandez wrote several articles throughout this year. For her services, she received total compensation of $520. What form will Betsy receive from the publishing company after year-end?
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3. Presently an employer pays the same amount as the employee for Social Security and _____ taxes.
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