a book club at a nearby  community  center  makayla led the book for early January  until March  19 2020 when the center closed  due to covid restrictions  the community center  pay het and in early 2021 she recieve  form 1099 nec reporting  510 for nonemployee  compensation in box 1 the community  center is within walking distance  of makayla  home so she did not have  any vehicle  or travel expenses he only businesd related expenses  w

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
Question
100%

Makayla Jennings  34 is filing  as a single tax payer during the year she earned 53000 in wages from her job as a high school  english teacher  makayla has always been a avid reader and in addition  to her teaching job she had an opportunity  in early 2020 to lead a book club at a nearby  community  center  makayla led the book for early January  until March  19 2020 when the center closed  due to covid restrictions  the community center  pay het and in early 2021 she recieve  form 1099 nec reporting  510 for nonemployee  compensation in box 1 the community  center is within walking distance  of makayla  home so she did not have  any vehicle  or travel expenses he only businesd related expenses  was 50 in supplies  makayla  has no other  income

What is the amount  of makayla self employment tax?

Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Follow-up Questions
Read through expert solutions to related follow-up questions below.
Follow-up Question

What amount should Makayla report as profit or loss from business? You may refer to her partially completed Schedule C, Profit or Loss from Business, which is shown below, to assist you in answering this question.

Solution
Bartleby Expert
SEE SOLUTION
Knowledge Booster
Federal Insurance Contributions Act (FICA)
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education