Kyle, a single taxpayer, worked as a freelance software engineer for the first three months of 2022. During that time, he earned $52,000 of self-employment income. On April 1, 2022, Kyle took a job as a full-time software engineer with one of his former clients, Hoogle Incorporated From April through the end of the year, Kyle earned $176,000 in salary. What amount of FICA taxes (self-employment and employment related) does Kyle owe for the year? Note: Round your intermediate calculations to the nearest whole dollar amount. $ 12,318 Self-employment/FICA tax

Kyle, a single taxpayer, worked as a freelance software engineer for the first three months of 2022. During that time, he earned $52,000 of self-employment income. On April 1, 2022, Kyle took a job as a full-time software engineer with one of his former clients, Hoogle Incorporated From April through the end of the year, Kyle earned $176,000 in salary. What amount of FICA taxes (self-employment and employment related) does Kyle owe for the year? Note: Round your intermediate calculations to the nearest whole dollar amount. $ 12,318 Self-employment/FICA tax

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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