During 2016, the social security tax rate was 6.2% capped at $118,500 of net earnings from self-employment; the medicare tax rate was 1.45% with no cap. An additional 0.9% of Medicare tax is assessed above $200,000 for single proprietors. Asole proprietor that is single and in the 39.6% income tax bracket earned $350,000 of net income from his sole proprietorship in 2016.

1) Compute the 2016 total Social Security & Medicare tax for the sole proprietor.

2) Compute the income tax burden on the sole proprietorship.