Please urgently Joe is a self-employed mechanic. His net earnings from self-employment for 2020are $200,000. How much is Joe's FICA tax?Note: The Social Security Wage base in 2020 was $137,700.Select one:O a. $17,074.80O b. $30,600Oc. $22,431.10O d. $21,068.10

FICA Taxes includes Social Security and Medicare Taxes. This tax is paid towards the Social Security…

Answered: are $200,000. How much is Joe's FICA…

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter9: Deduct Ions: Employee And Self-employed - Related Expenses

Section: Chapter Questions

Problem 38P

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are $200,000. How much is Joe's FICA tax? Note: The Social Security Wage base in 2020 was $137,700. Select one: O a. $17,074.80