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. Elyssa is self-employed earning a net income of $89,000. This year, she placed $7,000 in a deductible qualified retirement plan and paid $12,000 for
. Elyssa is self-employed earning a net income of $89,000. This year, she placed $7,000 in a deductible qualified retirement plan and paid $12,000 for medical coverage. How much is Elyssas self-employment tax?
a. $12,575 b. $13,617 c. $10,192 d $-0-
17. How much income from Elyssas business is subject to income tax before deducting one-half of self-employment tax?
a. $89,000 b. $82,000(I belive) c.$77,000 d. $70,000
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