Miranda's self-employment tax is $ and she has a $ deduction for AGI.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question

Transcribed Image Text:Tax Drill - Self-Employment Tax
In 2023, Miranda records net earnings from self-employment of $180,000. 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 $
and she has a $
deduction for AGI.
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