Stewart Beauf is a self-employed surfboard maker in 2018. His Schedule C net income is $125,003 for
Question:
Stewart Beauf is a self-employed surfboard maker in 2018. His Schedule C net income is $125,003 for the year. He also has a part-time job and earns $15,600 in wages subject to FICA taxes. Calculate Stewart’s self-employment tax for 2018 using Schedule SE on Pages 6-45 and 6-46.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 57% (14 reviews)
SCHEDULE SE Form 1040 Department of the Treasury Internal Revenue Service 99 Name of person with selfemployment income as shown on Form 1040 or Form 1040NR Stewart Beauf Before you begin To determine ...View the full answer
Answered By
Wahome Michael
I am a CPA finalist and a graduate in Bachelor of commerce. I am a full time writer with 4 years experience in academic writing (essays, Thesis, dissertation and research). I am also a full time writer which assures you of my quality, deep knowledge of your task requirement and timeliness. Assign me your task and you shall have the best.
Thanks in advance
4.90+
63+ Reviews
132+ Question Solved
Related Book For
Income Tax Fundamentals 2019
ISBN: 9781337703062
37th Edition
Authors: Gerald E. Whittenburg, Steven Gill
Question Posted:
Students also viewed these Business questions
-
Stewart Beauf is a self-employed surfboard maker in 2016. His Schedule C net income is $115,000 for the year. He also has a part-time job and earns $9,100 in wages subject to FICA taxes. Calculate...
-
Stew is a self-employed surfboard-maker in 2014. His Schedule C net income is $104,000 for the year. He also has a part-time job and earns $8,500 in wages subject to FICA taxes. Calculate Stews...
-
Peter is a self-employed attorney. He gives the following information about his business to his CPA for use in preparing his 2015 tax return: Income Fees from law practice $153,000 Expenses...
-
Suppose you buy Bond A at time=0. It is a 2-year, risk-free bond with coupon rate of 7% that compounds annually, and it has a face value of $1,000. (3 points) a) At time = 0, suppose you buy Bond A...
-
Superior Corporation has the following capital stock outstanding: Preferred stock, 6 percent, par $15, outstanding shares, 8,000. Common stock, par $8, outstanding shares, 30,000. On October 1, 2013,...
-
1. A supervisor can play many roles while he or she oversees employees. In order to ensure that work goes according to plan, a supervisor must assert control over situations that arise. Consider the...
-
The procedure of using a hammer with a built-in load cell to apply load at different points of a system is known as a. step relaxation b. excitation by electromagnetic shaker c. impactor
-
Elysian Fields, Inc., uses a maximum payback period of 6 years and currently must choose between two mutually exclusive projects. Project Hydrogen requires an initial outlay of $25,000; project...
-
1. What are some differences between diversity and inclusiveness? 2. What difference-based opportunities do you see as a result of changes in the workforce? 3. Is prejudice declining in our society?...
-
A rural clinic hires its staff from nearby cities and towns on a part-time basis. The clinic attempts to have a general practitioner (GP), a nurse, and an internist on duty during at least a portion...
-
Which of the following employees would not be exempt from Social Security and Medicare taxes on wages paid for household work? a. The taxpayers 16-year-old daughter. b. The taxpayers wife. c. The...
-
Sally hires a maid to work in her home for $280 per month. The maid is 25 years old and not related to Sally. During 2018, the maid worked 9 months for Sally. a. What is the amount of Social Security...
-
Using an online research service, find the audited financial statements of a major U.S. corporation. a. List some of the items that the corporation reports as having different treatment for tax and...
-
123 4 A 5 6 Beginning Account Balance 7 Annual desired pension payout 8 Annual payment Interest rate 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 Client's Age 45 46 47 48 49 50 51 52 53 54 55 56 B...
-
Problem 6 (13 marks) The Warren Buffett NCAA March Madness Bracket Challenge is an annual contest that awards any Berkshire Hathaway employee who can pick every first and second round game correctly...
-
11. Write the boolean expression (in sum-of-products form) for a logic network that will have a 1 output when X = 1, Y= 0, Z= 0; X=1, Y=1, Z=0; X=0, Y=1, Z=0; and X-1, Y=1, Z=1. The circuit will have...
-
44. What are A. B. 43. What is information reach? A. D. C. D. C. A. B. B. 45. What is the ability of an organization to tailor its products or services to the customers' specifications?...
-
21) Consider the following MLP network: X1 V2 2 a) b) 1 3 1 8.9 0.8 0.7 0.6 8.5 8.4 0.3 0.2 0.1 8 -10 -5 5 Sigmoid values: s(-5)= 0; s (-4) = .02; s(-3) = .04; s(-2) = .12; s(-1) = .27; s(0) = .5;...
-
What is the primary function of the Equal Employment Opportunity Commission?
-
In order to get an idea on current buying trends, a real estate agent collects data on 10 recent house sales in the area. Specifically, she notes the number of bedrooms in each house as follows: a....
-
Which of the following is not a test for the deductibility of a business expense? a. Ordinary and necessary test b. Expectation of profit test c. Reasonableness test d. Business purpose test
-
Which of the following items would be includable in the gross income of the recipient? a. Insurance payments for medical care of a dependent child b. Insurance payments for loss of the taxpayers...
-
Which of the following is included in gross income? a. Loans b. Scholarships for room and board c. Workers compensation d. Health insurance proceeds e. None of the above
-
Suresh Company reports the following segment (department) income results for the year. Sales: Expenses Avoidable Unavoidable Total expenses Income (loss) Department M $ 66,000 Department N $ 38,000...
-
EZ Tees Corporation produces T-shirts. The company uses a standard costing system and has set the following standards for direct materials and direct labor (for one shirt): Fabric (1.5 yds. @ $2.80)...
-
Question : List the competitive advantages of Nordstrom: the things that make it different from competitors in positive ways. Nordstrom: A Shining Example of Service Excellence 'Use your best...
Study smarter with the SolutionInn App