← FICA Contributions. Brian makes $25,100 per year. How much can Brian expect to contribute to FICA taxes in 2018? How much will his employer contribute? (Hint: The total FICA tax rate is 7.65%) The amount Brian can expect to contribute to FICA taxes in 2018 is $ (Round to the nearest cent) The amount his employer will contribute is $ (Round to the nearest cent.)
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- Tommy Newton has self-employment earnings of $229,000. What would be his 2021 total self-employment taxes?What if someone made 130,000 in 2019 what is their total fica wages to be taxed?In 2020, Shelly had net earnings from her business of $160,000. What is the amount of Shelly’s self-employed tax? Round answer to nearest dollar.
- How do I calculate self-employment taxes with self-employment earnings. For example Bob Marks has self-employment earnings of 149,200, what would be his total self-employment taxes for 2021.2. In 2016, the maximum taxable income for Social Security was SI18,500 and the tax rate was 6.2%. a. What is the maximum Social Security tax anyone could have paid in the year 2016? b. Randy had two jobs in 2016. One employer paid him $67,010 and the other paid him $71,200. Each employer took out 6.2% for Social Security taxes. How much did Randy overpay for Social Security taxes in 2016? er Seri l Security was rIn 2020, what is the amount of self-employment tax that would be paid by Andy for the year assuming he earned $108,900 in W-2 wages while working as an employee of the University and had $20,000 in net income (revenues minus expenses) from a Schedule C sales business that he owns? 1) approximately $1,626 2) approximately $2,825 3) approximately $3,060 4) approximately $18,213 5) None of these are within $50 of the correct amount.
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