Susan, a self-employed solicitor, has the following taxable income and allowable outgoings for 2020: Schedule D Case II income before capital allowances 180,000 Schedule D Case II capital allowances 25,600 Schedule D Case IV deposit interest gross 3,150 Schedule D Case V rental income (net of expenses) 12,000 Qualifying retirement annuity premiums paid 23,900 Susan is 31 years old and does not have a medical card. What is Susan's universal social charge (USC) liability for 2020?

Susan, a self-employed solicitor, has the following taxable income and allowable outgoings for 2020: Schedule D Case II income before capital allowances 180,000 Schedule D Case II capital allowances 25,600 Schedule D Case IV deposit interest gross 3,150 Schedule D Case V rental income (net of expenses) 12,000 Qualifying retirement annuity premiums paid 23,900 Susan is 31 years old and does not have a medical card. What is Susan's universal social charge (USC) liability for 2020?

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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