Ralph Henwood was paid a salary of $82,000 during 20-- by Odesto Company. In addition,...
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Accounting
Ralph Henwood was paid a salary of $82,000 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 $70,500 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.
OASDI
$fill in the blank 1
HI
$fill in the blank 2
b. Henwood's self-employment taxes on the income derived from the public accounting business for 20--.
OASDI
$fill in the blank 3
HI
$fill in the blank 4
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