Question: Based on the current year tax tables, what is Cory and Kassidy's applicable federal, FICA, and self-employment taxes? Note 1: State tax = (AGI

Based on the current year tax tables, what is Cory and Kassidy's applicable federal, FICA, and self-employment taxes?

Note 1: State tax = (AGI - standard deduction) x 6%

Note 2: Although state tax is calculated using the standard deduction, federal tax may differ if they take itemized deductions and the QBI deduction.

Note 3: Employee 401(k) contributions reduce Cory's income for federal & state purposes, but not for FICA tax purposes.

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