What amount of fica taxes does kyle owe for the year

Assignment Help Accounting Basics
Reference no: EM133149757

Question - Kyle, a single taxpayer, worked as a freelance software engineer for the first three months of 2021. During that time, he earned $82,000 of self-employment income. On April 1, 2021, 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 $182,000 in salary. What amount of FICA taxes (self-employment and employment related) does Kyle owe for the year?

Reference no: EM133149757

Questions Cloud

Project risk management methodology : What do you think about the project risk management methodology the author discussed in this article? Share examples to support your perspective.
Journalize the sale of the equipment : Mill Creek Golf Club purchased equipment on January 1, 2024, for $25,152. Journalize the sale of the equipment
What is the amount of gross sales on account : Cash received from customers including recoveries 6,000,000 and Cash sales 1,200,000. What is the amount of gross sales on account
Write the underlying code to implement the program : Write the underlying code to implement the program. The menu selections are linked to appropriate methods in the given code
What amount of fica taxes does kyle owe for the year : Kyle earned $182,000 in salary. What amount of FICA taxes (self-employment and employment related) does Kyle owe for the year
What is the expected return of the stock : Suppose GP issues $207 million of new stock to buy back the debt. What is the expected return of the stock after this transaction
How much bertholdt will receive under priority two : In preparing an advance cash distribution plan, how much Bertholdt will receive under priority 2? After distributing P440,000, who will get the next P120,000
What is the depreciation expense that should be recognized : The estimated residual value should be increased by 200,000. What is the depreciation expense that should be recognized for the year 2022
Construct an argument that utilises change management theory : Construct an argument that utilises change management theory to help justify when your chosen organisations implemented change has become the new norm

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.

  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!

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