Reference no: EM132379018

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