Tax Drill - Self-Employment TaxIn 2023, Miranda records net earnings from self-employment of $180,000. She has no other income. Determine the amount of Miranda'sself-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 $and she has a $deduction for AGI.

Let's calculate Miranda's self-employment tax by following the below-given steps -Self-Employment…

Answered: Miranda's self-employment tax is $ and…

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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Miranda's self-employment tax is $ and she has a $ deduction for AGI.