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JC recently graduated from veterinary school and opened their own professional practice. This year, their net profit was $25,300. Assume JC does not qualify for
JC recently graduated from veterinary school and opened their own professional practice. This year, their net profit was $25,300. Assume JC does not qualify for the QBI deduction. Required: a. Compute JC's after-tax income from their practice assuming their self-employment tax is $3,575, and their marginal income tax rat 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. Compute JC's after-tax income from their practice assuming their self-employment tax is $3,575, and their marginal income tax rate is 22 percent. Note: Round your intermediate calculations to the nearest whole dollar amount
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