Avery earns $75,000 as a professor at a university. In addition, she earns $135,000 from her consulting
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Avery earns $75,000 as a professor at a university. In addition, she earns $135,000 from her consulting practice that she owns. The 135,000 is considered self employment income. During the year she also earned $25,000 of long term capital gains, $12,000 interest income, $14,000 dividend income and incurred a loss of $6,000 on the sale of her car that was used for personal purposes. She had no other items of income or expense relevant for tax purposes. How much FICA will Avery have to pay for the year and how much net investment income will she have to pay?
Related Book For
Fundamentals Of Investing
ISBN: 9780135175217
14th Edition
Authors: Scott B. Smart, Lawrence J. Gitman, Michael D. Joehnk
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