Homework Help: ACCOUNTING

Posted by Anonymous on Friday, May 15, 2009 at 10:51pm.

Laurie is self-employed and expects to make $96,000 in 2007. Her social security tax rate
is 12.4% up to the wage base, Medicare is 2.9%, and her estimated federal income tax
rate is 25%. What is Laurie’s expected tax payment for the fourth quarter?
A. $6,000.00 C. $8,667.60
B. $7,971.60 D. $9,672.00

C

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