Erin, who is a self-employed party consultant, made $60,000 in net income from her business in 2020. Compute her self- employment tax liablitiy for 2020. Make sure you consult the book and how to compute this amount. O $4,590 O $7,440 O $8,477.73 O $9,180.00
Erin, who is a self-employed party consultant, made $60,000 in net income from her business in 2020. Compute her self- employment tax liablitiy for 2020. Make sure you consult the book and how to compute this amount. O $4,590 O $7,440 O $8,477.73 O $9,180.00
Chapter9: Deduct Ions: Employee And Self-employed - Related Expenses
Section: Chapter Questions
Problem 38P
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![Erin, who is a self-employed party consultant, made $60,.000 in net income from her business in 2020. Compute her self-
employment tax liablitiy for 2020. Make sure you consult the book and how to compute this amount.
O $4,590
O $7,440
O $8,477.73
O $9,180.00](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F7d6d27c6-7aae-4df0-9ac1-db5d06b9c522%2F651c6650-f82d-4949-b269-a5e56290db83%2F4r14ca_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Erin, who is a self-employed party consultant, made $60,.000 in net income from her business in 2020. Compute her self-
employment tax liablitiy for 2020. Make sure you consult the book and how to compute this amount.
O $4,590
O $7,440
O $8,477.73
O $9,180.00
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