User Account

All Pages

Compute the amount of fica taxes

Assignment Help Accounting Basics
Reference no: EM132669820

Problem 1: Ralph Henwood was paid a salary of $76,800 during 20-- by Odesto Company. In addition, during the year Henwood started his own business as a public accountant and reported a net business income of $66,500 on his income tax return for 20--. Compute the following:

a. The amount of FICA taxes that was withheld from his earnings during 20-- by Odesto Company.

b. Henwood's self-employment taxes on the income derived from the public accounting business for 20--.

Reference no: EM132669820

Questions Cloud

Evaluate empirical data regarding crime victims : This week's required readings discuss the situations that make it more likely for children and the elderly to become victims of crime and how vulnerabilities.
Process of breaking down glucose molecule aerobically : Describe the process of breaking down a glucose molecule aerobically. This would include pathways such as glycolysis, tca, and electron transport chain
What are electron carriers : What are electron carriers? What role do they play within metabolic pathways?
Analyze constitutionality of officer williams action : Officer Williams is an officer with the Richmond police department and has been with the department for five years. He received information that a citizen.
Compute the amount of fica taxes : Ralph Henwood was paid a salary of $76,800, Compute the amount of FICA taxes that was withheld from his earnings during 20-- by Odesto Company.
What is fermentation : What is fermentation? How is this an important pathway under anaerobic conditions for some cells?
Describe the structure of enzymes : Describe the structure of enzymes. Also indicate what factors can influence the activity of enzymes.
Find the total fica taxes that the employer would withhold : Find the total FICA taxes that the employer would withhold from the five employees each week and the amount the company would pay
What is the compartment : What is the compartment where hydrogen cations build up during ETC in a gram positive cell.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd