Eva received $77,000 in compensation payments from JAZZ Corporation during 2021. Eva incurred $13,000 in business expenses relating to her work for JAZZ Corporation JAZZ did not reimburse Eva for any of these expenses. Eva is single and deducts a standard deduction of $12,550. Based on these facts, answer the following questions: Use Tax Rate Schedule for reference.(Leave no answer blank. Enter zero if applicable. Round your intermediate and final answers to the nearest whole dollar amount.) Problem 8-68 Part c (Algo) c. Assume that Eva is considered to be a self-employed contractor. What are her self-employment tax liability and additional Medicare tax liability for the year? Self-employment tax liability Additional medicare tax liability
Eva received $77,000 in compensation payments from JAZZ Corporation during 2021. Eva incurred $13,000 in business expenses relating to her work for JAZZ Corporation JAZZ did not reimburse Eva for any of these expenses. Eva is single and deducts a standard deduction of $12,550. Based on these facts, answer the following questions: Use Tax Rate Schedule for reference.(Leave no answer blank. Enter zero if applicable. Round your intermediate and final answers to the nearest whole dollar amount.) Problem 8-68 Part c (Algo) c. Assume that Eva is considered to be a self-employed contractor. What are her self-employment tax liability and additional Medicare tax liability for the year? Self-employment tax liability Additional medicare tax liability
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:Eva received $77,000 in compensation payments from JAZZ
Corporation during 2021. Eva incurred $13,000 in business
expenses relating to her work for JAZZ Corporation JAZZ did
not reimburse Eva for any of these expenses. Eva is single
and deducts a standard deduction of $12,550. Based on
these facts, answer the following questions:
Use Tax Rate Schedule for reference.(Leave no answer
blank. Enter zero if applicable. Round your intermediate
and final answers to the nearest whole dollar amount.)
Problem 8-68 Part c (Algo)
c. Assume that Eva is considered to be a self-employed contractor. What are
her self-employment tax liability and additional Medicare tax liability for the
year?
Self-employment tax liability
Additional medicare tax liability
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