Your Client Logan Lawrence is self employed. He owns and operates Logans Landscaping. He has selfemployment income
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Question:
Your Client Logan Lawrence is self employed. He owns and operates Logan’s Landscaping.
He has selfemployment income of $100,000 in 2020. Write a detailed letter to Logan Explaining
Self Employment tax. Include the following points in your letter:
● A description of Social Security tax
● A description of medicare tax.
● An explanation of the wage cap for social security
● A review of the rates for 2020
● An explanation of the employer and employee portion of self employment tax.
● A calculation of Logan’sself employment tax liability for 2020
● The deductibility of the employer portion of self employment tax
Your letter should be in good business form.
Related Book For
Accounting
ISBN: 978-0324662962
23rd Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
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