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Question
Eva received $53,000 in compensation payments from JAZZ Corp. during 2019. Eva incurred $6,000 in business expenses relating to her work for JAZZ Corp. JAZZ did not reimburse Eva for any of these expenses. Eva is single and she deducts a standard deduction of $12,200. Based on these facts answer the following questions: Use Tax Rate Schedule for reference.
Assume that Eva is considered to be a self-employed contractor. What is her self-employment tax liability and additional Medicare tax liability for the year? (Round your intermediate computations & final answers to the nearest whole dollar amount. Leave no answer blank. Enter zero if applicable.)
Assume that Eva is considered to be a self-employed contractor. What is her regular tax liability for the year?
Schedule X-Single
If taxable Income Is over:
But not over:
The tax Is:
$ 0
$ 9.700
10% of taxable income
$ 39.475
$ 970 plus 12% of the excess over 59,700
$ 64.200
$ 4,543 plus 22% of the excess over $ 39.475
$ 84.200
$ 160.725
$ 14,382.50 plus 24% of the excess over $ 84,200
$ 204.100
$ 32,748.50 plus 32% of the excess over $ 160,725
$ 204,100
$ 510.300
$ 46,626.50 plus 35% of the excess over $ 204,100
-
$ 153,796.50 plus 37% of the excess over $ 510,300
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