Jack, age 58, runs his own business. During 2014, Jack reports $135,685 of revenues and $87,167 of

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Jack, age 58, runs his own business. During 2014, Jack reports $135,685 of revenues and

$87,167 of expenses on Schedule C. If Jack has no other sources of earned income, what amount of Jack’s Schedule C activities does he multiply by the 15.3% self-employment tax rate?

a. $44,806

b. $135,685

c. $125,305

d. $48,518

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Essentials Of Federal Income Taxation For Individuals And Business

ISBN: 9780808038009

15th Edition

Authors: Linda M. Johnson

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Question Posted: Oct 12, 2024 03:02 AM

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Jack, age 58, runs his own business. During 2014, Jack reports $135,685 of revenues and $87,167 of

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Essentials Of Federal Income Taxation For Individuals And Business

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