Baily owns and operates Ben’s Red Truck Shop (BRT), which is a sole proprietorship. She has self-employment income of $150,000. How much self-employment tax does she owe 2020? $21,092. $21,194. $22,194. $2 2,950.

Baily owns and operates Ben’s Red Truck Shop (BRT), which is a sole proprietorship. She has self-employment income of $150,000. How much self-employment tax does she owe 2020? $21,092. $21,194. $22,194. $2 2,950.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Baily owns and operates Ben’s Red Truck Shop (BRT), which is a sole proprietorship. She has self-employment income of $150,000. How much self-employment tax does she owe 2020?

		$21,092.
		$21,194.
		$22,194.
		$2 2,950.

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