Explaining the social security ad medicare tax effects

Assignment Help Accounting Basics

Reference no: EM131491102 , Length: word count:500

Requirements: Memo in 500 words in any of the topic.

Write a 400 - 600 word essay responding to either of the following.

1. Read: "Post-retirement payments were subject to self-employment tax," Information Letter 2016-0081. Consult text chapter 1 and write a memo explaining the social security ad Medicare tax effects if she receives a post retirement payment for past services of $200,000. You can use a search engine and search for this item. Estimated time budget: Research/reading, 1.5 hours; analysis, 1.5 hours; drafting 1 hour.

2. Find and read either the related provisions of the Trump tax plan or the Ryan/Brady tax plan. Write a memo to your clients who are married, with 2 young children, and have salary income of $250,000, mortgage interest of $20,000, state property taxes of $5,000, and state income taxes of $6,500, explaining the effects of the proposal on their tax burden. Estimated time budget: Research, 1.5 hours; analysis, 1.5 hours; drafting, 1 hour.

Reference no: EM131491102

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