Eva received $67,000 in compensation payments from JAZZ Corp. during 2018. Eva incurred $13,000 in business expenses relating to her work for JAZZ Corp. JAZZ did not reimburse Eva for any of these expenses. Eva is single and she deducts a standard deduction of $12,000. Based on these facts answer the following questions: Use Tax Rate Schedule for reference.

Assume that Eva is considered to be a self-employed contractor. What is her regular tax liability for the year?

$7,630

Explanation:

Given the following :

Gross compensation = $67,000

Incurred expenses = $13,000

Standard deduction = $12,000

The percentage of an individual's self employment earning subject to tax is 92.35% of the individual's self net earning. With 15.3% of these percentage being the individual's self employment tax liability.

From the question above,

Net self employment income :

General compensation - Expenses

$67,000 - $13,000 = $54,000

Taxable percentage of Net self employment income :

$54,000 × 92.35% = $49,869

Self employment tax liability :

49,869 × 15.3% = $7629.957

=$7,630

c

explanation:

c because the item on a bank statement is also referred to as an account statement. in addition, it provides the beginning balance, ending balance, statement date, transaction date for each transaction, payee, customer name and address, statement period, the account holder's account number, and the bank's customer service number

answer; monopolistic competition;