Anita, a single taxpayer, reports the following items for 2019 Salary $20,000 Income for serving on the Board of Directors for XYZ Corporation 11,000 Consulting gross income 9,000 Expenses related to consulting practice (15,000) a What is the amount of Anita 's self employment tax b How would your ...

a Director Fees 11000 Consulting loss 9000 15000 6000 Gross SE income 5000 x ...

Anita, a single taxpayer, reports the following items for 2019: Salary $20,000 Income for serving on the

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Anita, a single taxpayer, reports the following items for 2019:

Salary	$20,000
Income for serving on the Board of Directors for XYZ Corporation	11,000
Consulting gross income	9,000
Expenses related to consulting practice	(15,000)

a. What is the amount of Anita's self-employment tax?

b. How would your answer to Part a change if Anita's salary were S140,000?

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Federal Taxation 2020 Comprehensive

ISBN: 9780135196274

33rd Edition

Authors: Timothy J. Rupert, Kenneth E. Anderson, David S. Hulse

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Question Posted: Jul 02, 2020 01:27 AM

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Federal Taxation 2020 Comprehensive

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