Determine how much self-employment taxes Maggie will owe in 2022. Maggie is a hairstylist and was advised by non CFP to structured her practice as a sole proprietorship. She earned 175,000 in self-employment income.

I came up with

22,394 (rounded) Which was marked as wrong. I am not sure why. The 142,800 is the 2022 Social Security Max

175,000

* .9235

____________

161,613 subject to SE Tax

142,800 of which is multiplied by 15.3%

(161,613-142,800) = 18,813 which multiplied by 2.9%

____________

Results in $21,848+546

_________

Total 22,394