Eva received $71,000 in compensation payments from JAZZ Corporation during 2021. Eva incurred $10,000 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.) 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

SWFT Comprehensive Vol 2020
43rd Edition
ISBN:9780357391723
Author:Maloney
Publisher:Maloney
Chapter15: Taxing Business Income
Section: Chapter Questions
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Eva received $71,000 in compensation payments from JAZZ Corporation during 2021. Eva incurred $10,000 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.)

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 : 

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