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Volker is an employee of Equus Corporation. He also has his own business working as a ferrier. For 2017, Volker’s wages from Equus were $148,000. His self-employment income was $36,500.

If required, round any computations to two decimal places. Round final answers to the nearest dollar.

If an amount is zero, enter "0".

a. Compute the payroll, self-employment, and additional Medicare taxes for Volker for 2017.

$_______

b. Assume the same facts except that Volker’s 2017 self-employment activities resulted in a loss of $15,000. Compute the payroll, self-employment, and additional Medicare taxes for Volker for 2017.

$_______

c. Compute Volker’s NIIT for 2017 using wages of $148,000, self-employment income of $36,500, and NII of $10,000.

$______

Financial Management, Finance

  • Category:- Financial Management
  • Reference No.:- M92868464

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