Dimitri operates Downtown Discount Pharmacy, a sole proprietorship. Downtown Discount Pharmacy sponsors a profit sharing plan.  Dimitri had net income of $205,000 and paid self-employment taxes of $21,263 for the year.  If Dimitri makes a 15% of salary contribution on behalf of all of his employees to the profit sharing plan, how much is the contribution to the profit sharing plan on behalf of Dimitri? $22,642 $25,352 $26,732 $30,750

Jill is self-employed in the commercial plant care business. The business earned $120,000 in revenue and has $36,000 in business expenses. How much does Jill owe in FICA taxes? Select answer from the options below $11,868.82. $16,955.46. $12,852.00. $18,360.00.

Mr. Wu was a marketing manager. He received an annual salary totaling $848,000 and was provided with a rent--free flat by his employer during the year ended 31 March 2023. He paid an annual membership fee of $1,600 to the Institute of Marketing in December 2022 and donated cash of $1,000 to the Community Chest in March 2023. He contributed $31, 500 to an MPF scheme (Assume voluntary contribution, if any, are not paid into a TVC account). His wife died three years ago. He has to maintain a son aged 15 and his two parents, both of whom are aged over 60. His parents resided with him throughout the year ended 31 March 2023. The salaries tax liability of Mr. Wu for the year of assessment 2022/23 is:

Clark Patrick owns Camel Customs, a company that restores vintage Ford Mustangs. He has eight employees. The company's medical and dental plan does not qualify under Section 125. Clark wants to perform a benefits analysis report for one of his employees, Gayle Rowe, for the year. Gayle’s benefits package is as follows:   Annual Salary: $24,000 401(k) contribution: 3 percent of annual salary, company match is 50 percent of employee contribution Medical insurance deduction: $110 per month Dental Insurance: $12 per month   Required: Complete the following Benefits Analysis Report for Gayle Rowe for the year. Do not include FUTA and SUTA taxes. (Enter all amounts as positive values.)     Yearly Benefit Costs Company Cost Gayle’s Cost Medical insurance 6,180   Dental insurance 526   Life insurance 230 0 AD&D 57 0 Short-term disability 570 0 Long-term disability 285 0 401(k)     Social Security     Medicare     Tuition reimbursement 2,300 0 Total yearly…