Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Part V. Self-Employment Tax Computation 2019 Net Schedule-C income (from page 2): ___184880_________ 2019 Self-Employment Tax: __________________ Social security tax = (The lesser of Net
Part V. Self-Employment Tax Computation 2019 Net Schedule-C income (from page 2): ___184880_________ 2019 Self-Employment Tax: __________________ Social security tax = (The lesser of Net Sch-C income or $132,900)*12.4%, round up to nearest dollar: _____________ Medicare tax = (Net Schedule-C business income)*92.35%*2.9%, round up to nearest dollar: ________________ Total Self-Employment Tax = ___________
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started