2. Beau earned $25,000 of net earnings from a tax preparation business that he runs during tax season. He also earned a salary of $95,000 from his full-time job. How much self-employment tax must he pay for 2013? (Round calculations to the nearest dollar). (PLEASE FOLLOW EXAMPLE BELOW AND EXPLAIN WHERE ALL ELEMENTS CAME FROM as to where your conclusion came from and why)..

Ceiling amount ?$

Less: FICA wages ?$

Net ceiling ?$

Net self-employment income ?$

Lesser of net ceiling or net self-employnt income ?$

Social Security portion of the tax ?$

Self-employment earnings subject to the Medicare protion of the self-employment tax: ?$

Total self-employment tax for 2013 ?$