George Robin, a single taxpayer, has opened his own yoga studio. The following summarizes Mr. Robins schedule C for 2019.

Collections from clients $54,000

Business expenses $31,800

George purchased 2 assets during 2019 for 100% use in the studio. The two assets cost $11,000 and are not real estate. They are both 7 year property.

Calculate the net self-employment income, self-employment tax and deduction for self employment tax for Georges business if

1. he elects not to use bonus depreciation or Section 179.
2. He elects to use bonus depreciation for the full amount of the assets.