Rev. Janice Burton is a full-time minister at the Downtown Missionary Church. The church allows her to use the parsonage that has an annual fair rental value of $4,800. The church pays an annual salary of $13,200, of which $1,200 is designated for utility costs. Her utility costs during the year were $1,000. What is Rev. Burton's income for self-employment tax purposes?
a) $13,400
b) $12,200
c) $18,000
d) $13,200
Ans: c) $18,000
Business
You might also like to view...
Quality costs are easy to measure
Indicate whether the statement is true or false
Business
The velocity of money measures:
a. the quantity of money in an economy b. the rate of circulation of the money supply c. the level of inflation caused by the money supply d. none of the above
Business