1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Blizzard [7]
4 years ago
12

Adam Fleeman, a skilled carpenter, started a home improvement business with Tom Collins, a master plumber. Adam and Tom are conc

erned about the payroll taxes they will have to pay. Assume they form an S corporation and each earns a salary of $90,000 from the corporation; in addition, they expect their share of business profits to be $76,750 each. How much Social Security tax and Medicare tax (or self-employment tax) will Adam, Tom, and their corporation have to pay on their salary and profits?
Business
1 answer:
makkiz [27]4 years ago
8 0

Answer:

on average medicare tax is 1.45 % tax and social security is 6.25 % so simply multiply by those numbers their net income and go from there

Explanation:

You might be interested in
How can you determine an independent contractor?
nika2105 [10]

Answer:

B.

Explanation:

7 0
3 years ago
Read 2 more answers
What happens if you pay off an installment loan early?
choli [55]
You'll incur a prepayment fee
7 0
3 years ago
Read 2 more answers
Xena and xavier form the xx llc. xena contributes cash of $20,000, land (basis = $40,000; fair market value = $25,000), equipmen
brilliants [131]

Answer: $0 equipment, $20,000 land, $30,000 inventory, $90,000 partnership interest.

Explanation: The asset basis in the partnership between Xena and Xavier is the same same their basis. In the scenario above, Xena's basis is the same as Xena's partnership basis in asset.

Xena's asset basis include;

Cash = $20,000

Land basis = $40,000

Inventory basis = $30,000

Equipment basis = $0

Therefore Xena's basis in the partnership interest :

$(20,000 + 40,000 + 30,000 + 0) = $90,000

4 0
4 years ago
The focus of a(n) __________ strategy is high sales at low cost; the high sales are typically achieved by coming up with a produ
sp2606 [1]

Answer:

Mass marketing

Explanation:

Mass marketing -

It refers to as the marketing strategy , where the focus is on the complete market rather than some specific group , is referred to as mass marketing .

It is the reverse of niche marketing .

Mass marketing requires advertising method like , television , radio , newspaper , magazine etc.

As they tries to capture large area of consumers .

Hence , from the given information of the question ,

The correct answer is mass marketing .

5 0
3 years ago
Most licensed architects are members of which association? A. ACSA B. AIA C. NAAB D. NCARB E. NVOB
Rasek [7]

Answer: It is B. AlA

Explanation:ALA is open to all architects and professions related to architecture. Our members hold individual memberships and specialize in all types of architecture.

8 0
3 years ago
Other questions:
  • Groundswell Industries, a U.S.-based large conglomerate, competes in the hospitality, education, telecommunications, entertainme
    12·1 answer
  • Malcolm Figueroa is a sales employee of Carefree Pools and Spas, Inc. During 2017, he was issued a company car with a fair marke
    12·2 answers
  • On January 1, 2021, the general ledger of 3D Family Fireworks includes the following account balances: Accounts Debit Credit Cas
    8·1 answer
  • Which of the following is false? Group of answer choices Under accrual basis accounting, companies record revenues when they rec
    8·1 answer
  • Of the following, which is NOT a cultural aspect of doing business in Korea? a. Younger brothers and sisters are not allowed to
    8·1 answer
  • At Nanclet, a market research firm, whenever a particular team needs to hire people, the human resource (HR) department conducts
    15·1 answer
  • Murphy Manufacturing estimated $100,000 in manufacturing overhead and 5,000 direct labor hours for 2016. Actual overhead for the
    7·1 answer
  • Clearing House Interbank Payment System (CHIPS) is an organization that provides secure communication for contracts, invoices, a
    13·1 answer
  • What is Financing Decision??​
    11·2 answers
  • The rent (on land) is determined entirely by demand because the supply of land is ________________________. group of answer choi
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!