Matt is self-employed as a carpenter he made 42000 after, Financial Management

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Matt is self-employed as a carpenter he made 42000 after

1. FICA Taxes. Matt is self-employed as a carpenter. He made $42,000 after expenses in 2012. How much did he contribute to FICA taxes?

2. Capital Gains Tax. Stephen is in a 15% marginal tax bracket. In 2012, he sold stock that he had held for nine months for a gain of $1,900. How much tax must he pay on this capital gain? How much would the tax be if he had held the stock for 13 months?

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