Bodie, a single taxpayer, worked as a self employed consultant for the first three months of...

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Bodie, a single taxpayer, worked as a self employed consultant for the first three months of 2023. During that time, he earned $21,270 of self-employment income. On April 1, 2023, Bodie took a job as a full-time job with one of his former clients. From April through the end of the year, Bodie earned $85,800 in salary. What amount of FICA taxes (self-employment and employment related) does Bodie owe for the year? Remember the social security wage limit is $160,200 Bodie, a single taxpayer, worked as a self employed consultant for the first three months of 2023. During that time, he earned $21,270 of self-employment income. On April 1, 2023, Bodie took a job as a full-time job with one of his former clients. From April through the end of the year, Bodie earned $85,800 in salary. What amount of FICA taxes (self-employment and employment related) does Bodie owe for the year? Remember the social security wage limit is $160,200

Answer rating: 100% (QA)

To calculate Bodies FICA taxes for the year we need to consider both his selfemployment income and h... View the full answer