George Parker was paid a salary of $74,700 during 2013 by Umberger Company. In addition, during the

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George Parker was paid a salary of $74,700 during 2013 by Umberger Company. In addition, during the year, Parker started his own business as a public accountant and reported a net business income of $38,900 on his income tax return for 2013. Compute the following:

a. The amount of FICA taxes that was withheld from his earnings during 2013 by Umberger Company.


OASDI$___________

HI $___________


b. Parker’s self-employment taxes on the income derivedfrom the public accounting business for 2013.

OASDI $___________

HI$___________


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Related Book For  book-img-for-question

Payroll Accounting

ISBN: 978-1133962533

2013 edition

Authors: Bernard J. Bieg, Judith A. Toland

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