The maximum tax bases and percentages for 2022 for the two portions of the self-employment tax are which of the following? Social Security Medicare a. $ 147,000; 12.4% Unlimited; 2.9%. b. $ 147,000; 12.4% Unlimited; 15.3%. c. $ 142,800; 12.4% Unlimited; 2.9%. d. $ 142,800; 15.3% Unlimited; 15.3%.

The maximum tax bases and percentages for 2022 for the two portions of the self-employment tax are which of the following? Social Security Medicare a. $ 147,000; 12.4% Unlimited; 2.9%. b. $ 147,000; 12.4% Unlimited; 15.3%. c. $ 142,800; 12.4% Unlimited; 2.9%. d. $ 142,800; 15.3% Unlimited; 15.3%.

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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Question

The maximum tax bases and percentages for 2022 for the two portions of the self-employment tax are which of the following?

	Social Security	Medicare
a.	$ 147,000; 12.4%	Unlimited; 2.9%.
b.	$ 147,000; 12.4%	Unlimited; 15.3%.
c.	$ 142,800; 12.4%	Unlimited; 2.9%.
d.	$ 142,800; 15.3%	Unlimited; 15.3%.

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