Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Oscar is self-employed as a virtual assistant. He will use the single filing status, and his only source of income was a net profit of

Oscar is self-employed as a virtual assistant. He will use the single filing status, and his only source of income was a net profit of $95,000 from his business. What is the amount of Oscar's self-employment tax?

a. $10,879

b. $11,780

c. $13,423

d. $14,535

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions