Ask Question
25 August, 06:31

Peter and Joan are married and Joan has self-employment income of $240,000. Peter is retired. How much additional 0.9% Medicare tax will Peter and Joan owe with their 2019 income tax return? a. $0 b. $2,160 c. $360 d. They will receive a $90 refund

+4
Answers (1)
  1. 25 August, 09:46
    0
    B) 216,000

    Explanation:

    Effective Tax Rate = Total Tax Expenses/Taxable Income

    That is, Effective Tax Rate = 0.9*240,000 = 216000
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Peter and Joan are married and Joan has self-employment income of $240,000. Peter is retired. How much additional 0.9% Medicare tax will ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers