In 2019 Landon has self-employment earnings of $195,000. Compute Landons self- employment tax liability and the allowable

Question:

In 2019 Landon has self-employment earnings of $195,000. Compute Landon’s self- employment tax liability and the allowable income tax deduction of the self-employment tax paid.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For answer-question

Fundamentals Of Taxation 2020 Edition

ISBN: 9781260483147

13th Edition

Authors: Ana Cruz, Michael Deschamps, Frederick Niswander, Debra Prendergast, Dan Schisler

See More Books

Question Posted: Dec 23, 2019 06:18 AM

See More Questions

In 2015 Landon has self-employment earnings of $195,000. Compute Landon's self- employment tax liability and the allowable income tax deduction of the self-employment tax paid.
In 2017 Landon has self-employment earnings of $195,000. Compute Landons self- employment tax liability and the allowable income tax deduction of the self-employment tax paid.
In 2018 Landon has self-employment earnings of $195,000. Compute Landons self- employment tax liability and the allowable income tax deduction of the self-employment tax paid.
What are the side effects of the drugs that are used for treatment of Multiple Sclerosis attacks? Are cataracts a result of steroid use? Is osteoporosis a complication of Multiple Sclerosis?
Explain the steps in the construction of the compound proposition given in the text that asserts that every column of a 9 9 Sudoku puzzle contains every number.
Describe the area represented by the limits. N-1 5 - ( - 2 + 5 / / )* (2+5 N j=0 lim N-00 N
This case deals with several issues regarding contract formation under the UCC. Logan and Kanawha Coal agreed to purchase coal from Detherage via a fax dated March 9, 2010. The fax stated that it had...
The management of Weimar Inc., a civil engineering design company, is considering an investment in a high-quality blueprint printer with the following cash flows: Required: 1. Determine the payback...
The OLAP (Online Analytical Processing) discussion gives examples of multidimensional information. Give your own example of useful three-dimensional information.
Assume that the network in Figure 20.34 (previous problem) uses distancevector routing with the forwarding table as shown for each node. If each node periodically announces their vectors to the...
Eric, who is single, has income from his Schedule C of $150,000. His taxable income is $120,000 after his other deductions. What is Erics QBI deduction for 2019?
Casper used the following assets in his Schedule C trade or business in the tax year 2019: Casper is a new client and unfortunately does not have a copy of his prior year tax return. He recalls that...
Schuss SA issued 3,000,000 of 10%, 10-year convertible bonds on April 1, 2022, at 98. The bonds were dated April 1, 2022, with interest payable April 1 and October 1. Bond discount is amortized...
6. (a) Explain Link state routing, Find the shortest path in the given network and construct the Routing table for node A using RIP AND OSF 5 D 3 B 2 3 E 5 F
You are the manager of the public transit system. You are informed that the system faces a deficit, but you cannot cut service, which means you cannot cut costs. Your only hope is to increase revenue...
Suppose the growth of production in country B follows solow Model.country B's production function is Y=F(k,L)=K^0.5 L^0.5. Country B has 100 prople(labors) and 64 units of capital K in year 1.The...
Why is it important to have all accomplishments, certifications, and challanges beat all in one place on a resume?
White light is incident on a prism with an apex angle of 52.0. The angle of incidence is 28.0. The index of refraction for a certain wavelength of red light is 1.386. The index of refraction for a...
Georgia Orchards produced a good crop of peaches this year. After preparing the following income statement, the company is concerned about the net loss on its No. 3 peaches. In preparing this...
Conduct a VRIO analysis by ranking Husson University (in Maine) business school in terms of the following six dimensions relative to the top three rival schools. If you were the dean with a limited...
In the case of the adoption credit, what special rules apply when adopting a child who is a citizen of another country?
What is the definition of qualifying child for purposes of the Earned Income Credit?
Briefly explain the requirements that must be met to receive a tax credit for child and dependent care expenses.
In the absence of air resistance, a projectile that lands at the elevation from which it was launched achieves maximum range when launched at a 45 angle. Suppose a projectile of mass m is launched...
What would be the total cost of leasing a vehicle for four years that requires a security deposit of $1,000 (which would be withdrawn from your portfolio, which earns 9% per year), has monthly lease...
A nurse manager is preparing for a performance appraisal review for an employee who has been identified as substandard. describe the process of conducting a performance appraisal review and when...

In 2019 Landon has self-employment earnings of $195,000. Compute Landons self- employment tax liability and the allowable

Question:

Step by Step Answer:

195000 x 9235 180083 FICA Social security limit 13290...View the full answer

Fundamentals Of Taxation 2020 Edition

Students also viewed these Business questions