99%(90)89 out of 90 people found this document helpful
This preview shows page 20 - 22 out of 32 pages.
of $6,300 and a personal exemption of $4,050. Based on these facts answer the following questions:a.Assume that Eva is considered to be an employee. What amount of FICA taxes is she required to pay for the year?b.Assume that Eva is considered to be an employee. What is her regular income tax liabilityfor the year? $8,183.75 as calculated below.DescriptionAmountExplanation×b.Assume that Eva is considered to be a self-employed contractor. What is her self-employment tax liability for the year? $7,771 as calculated below.
d.Assume that Eva is considered to be a self-employed contractor. What is her regular tax liability for the year?$5,962.25 as calculated below.DescriptionAmountExplanation×72. Trey claims a dependency exemption for both of his two daughters, ages 14 and 17, at year-end. Trey files a joint return with his wife. What amount of child credit will Trey be able to claim for his daughters in each of the following alternative situations?a. His AGI is $100,000.$1,000. Because Trey’s AGI is less than the phase-out threshold ($110,000) for a joint