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15. John is a single taxpayer that owns and operates a laundry mat. Gross income earned was $195,000 and $30,000 of expenses. Calculate the total

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15. John is a single taxpayer that owns and operates a laundry mat. Gross income earned was $195,000 and $30,000 of expenses. Calculate the total amount of self-employment taxes (rounded)? (Remember Social Security is capped at $132,900). (Looking for total tax employer and employee) A. $20,899. B. $21,265 C. $21,702 D. $29,835 E. $24,098 16.JJ a married taxpayer, operates a business as a sole proprietor. The business has one employee, who was paid $95,000. Assume the business had no significant assets. During 2019, the net income of JJ's business (as reported on Schedule C) was $500,000 (after deducting all expenses including salary) and his modified taxable income is $600,000. What is the amount of JJ's qualified business deduction? (not a specified service trades or businesses (SSTB)) A. $100,000 B. $120,000 C. $19,000 D. $47,500 E. None of the amounts listed

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