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nikklg [1K]
1 year ago
12

in 2022, a taxpayer (with $26,500 of employee compensation) was allocated $176,000 of self-employment income. calculate the amou

nt of self-employment tax the taxpayer would owe.
Business
1 answer:
cupoosta [38]1 year ago
3 0

in 2022, a taxpayer (with $26,500 of employee repayment) becomes allotted $176,000 of self-employment income. calculate the amount of self-employment tax the taxpayer might owe $162,536 of net earnings from self-employment ($176,000.

A self-employed man or woman refers to any character who earns their living from any impartial pursuit of a monetary activity, rather than earning a living running for an organization or every other person (an enterprise).

Examples of occupations wherein self-employment is not unusual consist of diverse jobs in the skilled trades, writers, freelancers, artists, lawyers, accountants, financial offerings experts, and buyers.

Self-employment earnings are earnings that arise from the overall performance of private services, but which cannot be categorized as wages due to the fact an organization-employee dating does no longer exist between the payer and the payee.

Learn more about  Self-employment here:

https://brainly.in/question/304865

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Jenny has a degree in social work and is looking for her first job out of college. It is most important to her that she have a j
kondaur [170]
Remark
If Jenny takes option A by a month later between people's problems and her late nights working, she's going to be completely worn out, but her student loan will begin to get paid off. That's a plus.

If she takes B she does not get the career fulfillment that she wants. No job is perfect and that student loan is like a massive weight around her neck. She could do volunteer work on the weekends.

C is completely out of the question. She's piling debt on debt. If she meets with one of life's catastrophes, she will be in real trouble. C is not an option at all.

D
D to me is an option. Working with kids, she will discover, is career advancement enough. If she get's tenure, she's set.

Based on just what is in the question and nothing more, I would pick D. If you are allowed to add circumstances then B is a good choice. Depends on what kind of questions you had before. I'll stick with D, but it depends on what your marker is like. A machine is merciless and expects only one answer. A person might let you say something and give you credit for what you say.

D<<<< answer.
3 0
3 years ago
Consider whether each of the following events is likely to increase or decrease real GDP. In each case, do you think the well-be
STALIN [3.7K]

Answer:

a. A hurricane in Florida forces Disney World to shut down for a month.

Likely to decrease GDP because the economic activity of Disney World, which is part of GDP either as investment or consumption, is frozen for a whole month.

The average person will not likely feel the effects of the shutdown because as a percetange of the whole population, the amount of people who either work, or go to Disney World in a given month, is very small.

b. The discovery of a new, easy-to-grow strain of wheat increases farm harvests.

Likely to increase GDP because the harvest of wheat will be much larger, raising the value of that economic activity.

The average person is likely to benefit from this event because the larger wheat output means lower prices, and wheat is a food staple.

c. Increased hostility between unions and management sparks a rash of strikes.

Likely to decrease GDP because the companies involved in the strikes will stop their economic activity until an agreement is reached.

The average person will not feel the effects unless they are either part of the unions or part of the management of the firms involved.

e. Congress passes new environmental laws that prohibit firms from using production methods that emit large quantities of pollution.

Likely to decrease GDP because firms cannot replace their polluting methods for non-polluting ones very quickly. They will have to produce less.

The average person will feel the effects because the enviromental law comes from Congress, so is a federal law, applies nationally, and as a result, the number of firms affected is very large.

f. More high school students drop out of school to take jobs mowing lawns.

likely to increase GDP in the short-run, because students are now taking part of an economic activity. In the long-run, this is likely to decrease GDP because less educated people are less productive and thus, contribute less to GDP on average.

The average person will not feel any effects unless the number of high shcool drop outs is very large.

g. Fathers around the country reduce their workweeks to spend more time with their children.

likely to decrease GDP simply because fathers are now working less, and producing less. However, this could change if worker productivity goes up, and the fathers produce the same in less time.

Again, whether the average person feels the effects or not depends on the number of fathers that take this decision.

3 0
3 years ago
Appreciation of the U.S. dollar will have the following impact on McDonald's:
lara31 [8.8K]

Answer:

C. lower profits, because foreign profits will be reduced when measured in dollars

Explanation:

When U.S Dollar i.e domestic currency for McDonald's appreciates, the foreign franchisees of McDonald's which earn revenues in foreign currencies will be affected.

Foreign franchisees earn revenues in their own domestic currency say in euros or pounds. A major part of those profits need to be repatriated to the parent Co i.e McDonalds, USA. Those profits shall be converted into domestic currency i.e USD which would yield lesser dollars than before.

For example previous exchange rate was 1$ = 50 Ruppes and now the rate has increased to 1 $ = 60 rupees.

A Franchisee in India makes 5 million rupees profit.

At previous exchange rate, upon conversion yields $1,00,000

At new exchange rate, the receipts would be $83,333

As can be seen, the profits have reduced.

4 0
4 years ago
Your sister is thinking about starting a new business. The company would require $425,000 of assets, and it would be financed en
dangina [55]

Answer:

Net income = $133,875

Explanation:

The amount of net income that must be earned to proceed with the investment is that which produces a return on equity of 13.5%

Return on equity is the proportion of the equity investment that is earned as net income. It is computed as follows:

Return on equity (ROE) = net income /equity capital

Equity capital in this case is the same as the total asset value of 425,000 because the assets were financed entirely with common stock.

We substitute the values as follows:

13.5% = Net income/425,00

Cross multiply

Net income = 0.135 × 425,000 = $133,875

Net income = $133,875

6 0
3 years ago
The assets of a company represent: Amounts owed to creditors. Investments by stockholders. Sales of goods or services to custome
Korolek [52]

Answer:

The correct answer is letter "D": Resources that will be used to benefit the company.

Explanation:

An asset is a <em>resource </em>with an economic value. Individuals, corporations, and countries expect the assets they own can provide economic benefits now and in the future. Assets can be tangible such as equipment and land or intangible including things like a brand, chemical formula or property rights.

5 0
3 years ago
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