Question - Ralph Henwood was paid a salary of $64,600 during 2018 by Odesto Company. In addition, during the year Henwood started his own business as a public accountant and reported a net business income of $70,000 on his income tax return for 2018. Compute the following:
a. The amount of FICA taxes that was withheld from his earnings during 2018 by Odesto Company.
b. Henwood's self-employment taxes on the income derived from the public accounting business for 20--.