Aaron owns and operates a shipping business. He had gross income of $ 345,00 and expenses totaling

Fantastic news! We've Found the answer you've been seeking!

Question:

Aaron owns and operates a shipping business. He had gross income of $ 345,00 and expenses totaling of $ 150,000. Calculate the amounto of self -employment tax that Aaron will be required to pay for the tax year 2020.

- $ 17,075

- $ 22,297

- $ 27,553

- $ 29835

Posted Date: Jun 01, 2024 05:20 AM

See More Questions

Traver-Dunlap Corporation has a 15% weighted average cost of capital (WACC). Its most recent sales were $980 million and its total net operating capital is $870 million. The following shows estimates...
are constant. How much they bring the bakery? 1. How many pies can Janelle and Hector make together in 1 hour? How many pies can Jane and Hector make together in t hours? Janene 5P 3PC, 8Pies Recall...
Miss Azlin is the newly appointed Finance Manager at Suasana Berhad. Her first assignment is to report to the Board of Directors on the company's current cost of capital. She is presented with the...
An evaporator operating at $150 \mathrm{kPa}$ is fed with $5 \mathrm{~mol}$ per cent sodium hydroxide solution. Estimate the temperature at which the solution boils in the evaporator.
How can you establish the continuity equation?
Explain the application of the first law of thermodynamics to the flow process.
In a constant-volume calorimeter, methane undergoes a compression process. The released heat at $25^{\circ} \mathrm{C}$ is $3720 \mathrm{cal}$. What will be the enthalpy change of the process at...
Jon bought a chargeable asset for 58,500 in October 1991. He incurred enhancement expenditure of 10,000 in December 1994 and a further 4,000 in July 2010. The asset was sold for 185,000 in February...
On July 1, 2016, the City of Corfu received a gift of debt securities of XYZ Company with a nominal (par) value of $1,600,000. Income is to be used to make awards for civic achievements. As of the...
The range of authoritative requests to which a subordinate is willing to respond without subjecting the directives to critical evaluation or judgment is called the ____________. (a) psychological...
____________ is the ability to control anothers behavior because of the possession of knowledge, experience, or judgment that the other person does not have but needs. (a) Coercive power (b) Expert...
The pattern of authority, influence, and acceptable managerial behavior established at the top of the organization is called ______________. (a) organizational governance (b) agency linkage (c) power...

Aaron owns and operates a shipping business. He had gross income of $ 345,00 and expenses totaling

Question:

Expert Answer:

Students also viewed these accounting questions