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Compute Kinmark annual earnings from employment

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Reference no: EM132702704

Problem - Lori Kinmark works as a jeweler for a local company. She earns $1,000 per week, plus a year-end bonus of $2,000. Kinmark also earns an additional net self-employment income of $28,000 per year.

1. Compute Kinmark's annual earnings from employment.

2. Compute Kinmark's total earnings from her job and from self-employment income.

3. How much self-employment income should Kinmark include in computing taxable self-employment income for OASDI taxes?

4. What are the total FICA taxes on her self-employment earnings?

Reference no: EM132702704

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