Question: Kyle, a single taxpayer, worked as a freelance software engineer for the first three months of 2 0 2 4 . During that time, he

Kyle, a single taxpayer, worked as a freelance software engineer for the first three months of 2024. During that time, he earned \(\$ 78,000\) of self-employment income. On April 1,2024, Kyle took a job as a full-time software engineer with one of his former clients, Hoogle Incorporated From April through the end of the year, Kyle earned \(\$ 312,000\) in salary. What amount of FICA taxes (self-employment and employment related) does Kyle owe for the year? Note: Round your intermediate calculations and final answer to the nearest whole dollar amount.
Kyle, a single taxpayer, worked as a freelance

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!