**Scenario:** Alice is single and self-employed in 2021. Her net business profit on her Schedule C for the year is $192,000. **Question:** What are her self-employment tax liability and additional Medicare tax liability for 2021? *(Round your final answers to the nearest whole dollar amount. Leave no answer blank. Enter zero if applicable.)* **Answer Table:** | | | |------------------------------------------|---------------------------------------| | Self-employment tax liability | | | Additional Medicare tax liability | |

Scenario: Alice is single and self-employed in 2021. Her net business profit on her Schedule C for the year is $192,000. Question: What are her self-employment tax liability and additional Medicare tax liability for 2021? (Round your final answers to the nearest whole dollar amount. Leave no answer blank. Enter zero if applicable.) Answer Table: | | | |------------------------------------------|---------------------------------------| | Self-employment tax liability | | | Additional Medicare tax liability | |

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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