Answer:
- Self employment tax liability = $22,323.97
- Additional Medicare tax liability = $0
Explanation:
According to the IRS, the amount subject to self-employment tax is 92.35% of net income from self-employment for the year.
Alice's taxable income is:
= 92.35% * 196,000
= $181,006
Self employment tax-liability:
Social security tax for 2020 is 12.4% for the first $137,700 of income.
= 12.4% * 137,700
= $17,074.80
Medicare tax:
= 2.9% on taxable income
= 2.9% * 181,006
= $5,249.17
Self-employment tax is:
= 17,074.80 + 5,249.17
= $22,323.97
<em>Additional Medicare tax applies on only amounts above $200,000 so it is $0 in this case. </em>
Answer:
what is this there is nothing to answer
Explanation:
Answer:
1. The cost of a hard drive installed in a computer. DIRECT MATERIAL COST.
The business of the company is to make computers so when it comes to hard drives, these are fundamental parts of a computer so they will be classified as direct materials since they are directly involved in the production process.
2. The cost of advertising in the Puget Sound Computer User newspaper. SELLING COST.
Advertising is done to be able to sell gods and services so it will fall under selling costs.
3. The wages of employees who assemble computers from components. DIRECT LABOR COST.
The labor cost of those that are involved in the direct manufacture of the computer will be considered direct labor as they are directly involved in the production process.
4. Sales commissions paid to the company’s salespeople. SELLING COST.
Sales commissions are paid to encourage the salespeople to sell more so this is a selling cost as it is incurred to increase sales.
Answer:
The correct answer is the option C: changes in M in the short run can cause Real GDP to fall.
Explanation:
To begin with, the monetarist economists are the one that support the idea of not having any intervention from the government regarding the economy and moreover they are the ones whose ideology focus mainly in the money, as it name indicates. Therefore that when the government decides in the short run to increase the amount of the money supply then the monetarists argue that the action done by them will cause the Real GDP to fall because of the high inflation that it will cause the increase of the money supply and consequently low demand, etc.
