What is her self-employment tax liability

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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

$ 9.700

$ 39.475

$ 970 plus 12% of the excess over 59,700

$ 39.475

$ 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

$ 160.725

$ 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

$ 510.300

-

$ 153,796.50 plus 37% of the excess over $ 510,300

Reference no: EM132379018

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