geNOWv2 | Online teachin x E Grade Calculator Assignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false Pearson Sign In WileyPLUS Cengage eBook Tax Drill - Self-Employment Tax In 2020, Miranda records net earnings from self-employment of $158,500. She has no other income. Determine the amount of Miranda's self-employment tax and her for AGI income tax deduction. In your computations round all amounts to two decimal places. Round your final answers to the nearest dollar. Miranda's self-employment tax is $ 21,320 V and she has a $ 12,125 X deduction for AGI. Feedback Check My Work The tax on self-employment income is levied to provide Social Security and Medicare benefits (old age, survivors, and disability insurance and hospital insurance) for self-employed individuals.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Tax Drill - Self-Employment Tax
In 2020, Miranda records net earnings from self-employment of $158,500. She has no other income. Determine the amount of Miranda's
self-employment tax and her for AGI income tax deduction.
In your computations round all amounts to two decimal places. Round your final answers to the nearest dollar.
Miranda's self-employment tax is $
21,320 V and she has a $
12,125 X deduction for AGI.
Feedback
Check My Work
The tax on self-employment income is levied to provide Social Security and Medicare benefits (old age, survivors, and disability insurance and
hospital insurance) for self-employed individuals.
Transcribed Image Text:gageNOWv2 | Online teachin x Grade Calculator akeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress3false 2 Pearson Sign In WP WileyPLUS Cengage еВook Tax Drill - Self-Employment Tax In 2020, Miranda records net earnings from self-employment of $158,500. She has no other income. Determine the amount of Miranda's self-employment tax and her for AGI income tax deduction. In your computations round all amounts to two decimal places. Round your final answers to the nearest dollar. Miranda's self-employment tax is $ 21,320 V and she has a $ 12,125 X deduction for AGI. Feedback Check My Work The tax on self-employment income is levied to provide Social Security and Medicare benefits (old age, survivors, and disability insurance and hospital insurance) for self-employed individuals.
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