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Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
Edition 12ISBN: 978-0132605540Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
Edition 12ISBN: 978-0132605540 Exercise 160
SELF-EMPLOYMENT DEDUCTIONS This problems refer to self-employed individuals. These people pay a Social Security tax of 12.4% and Medicare tax of 2.9%. Find both of the taxes on this annual adjusted earnings. (See Example.)
Ron Morris, a Chic-Filet franchise owner, earned $78,007.14. ___________
EXAMPLE
Finding FICA and Medicare Tax for the Self-Employed
Find the Social Security tax and the Medicare tax paid by Ta Shon Williams, a self-employed Web designer who had adjusted earnings of $53,820 this year.
SOLUTION
Ron Morris, a Chic-Filet franchise owner, earned $78,007.14. ___________
EXAMPLE
Finding FICA and Medicare Tax for the Self-Employed
Find the Social Security tax and the Medicare tax paid by Ta Shon Williams, a self-employed Web designer who had adjusted earnings of $53,820 this year.
SOLUTION
Explanation
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In order to calculate amounts taken for ...
Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
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