Amelia has wages of $45,000 and net income from a small unincorporated business of $70,000 for 2016.
Question:
Amelia has wages of $45,000 and net income from a small unincorporated business of $70,000 for 2016.
a. What is the amount of Amelia’s self-employment (SE) tax and deduction for AGI for her SE tax?
b. How would your answer to Part a change if Amelia’s wages were $120,000 rather than $45,000?
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a SE tax Social security tax Medicare tax 8016 1875 9891 Socia...View the full answer
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Related Book For 
Federal Taxation 2017 Individuals
ISBN: 9780134420868
30th Edition
Authors: Thomas R. Pope, Timothy J. Rupert, Kenneth E. Anderson
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