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JC recently graduated from veterinary school and opened their own professional practice. This year, their net profit was $22,000. Assume JC does not qualify for
JC recently graduated from veterinary school and opened their own professional practice. This year, their net profit was $22,000. Assume JC does not qualify for the QBI deduction. Required: at. Compute JC's after-tax income from their practice assuming their self-employment tax is $3,109, and their marginal income tax rate is 22 percent. b. What percentage of the federal tax burden on JC's business income is represented by the self-employment tax? Complete this question by entering your answers in the tabs below. Required A Required B What percentage of the federal tax burden on JC's business income is represented by the self-employment tax? Note: Round your answer to the nearest whole percent. %
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