Last year Ellen received $75,000 in compensation from her employer who also agreed to pay her Social Security taxes of $4,650 and Medicare taxes of $1,088 without deducting them from her wages. Based solely on these facts, what amount must Ellen include in her income?
Last year Ellen received $75,000 in compensation from her employer who also agreed to pay her Social Security taxes of $4,650 and Medicare taxes of $1,088 without deducting them from her wages. Based solely on these facts, what amount must Ellen include in her income?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![Last year Ellen received $75,000 in compensation from her employer who also agreed to pay her Social Security taxes of
$4,650 and Medicare taxes of $1,088 without deducting them from her wages. Based solely on these facts, what amount
must Ellen include in her income?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe7628b74-3d84-47b2-8bae-7941030f63b0%2Fdd38ba8a-7edf-42af-acad-35d0fb9304da%2F95ghnnd_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Last year Ellen received $75,000 in compensation from her employer who also agreed to pay her Social Security taxes of
$4,650 and Medicare taxes of $1,088 without deducting them from her wages. Based solely on these facts, what amount
must Ellen include in her income?
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