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Please explain, thank you NOTE: Use the following information to answer Questions 13-15. 13. Mr. and Mrs. Lawson have the following tax information for 2018
Please explain, thank you
NOTE: Use the following information to answer Questions 13-15. 13. Mr. and Mrs. Lawson have the following tax information for 2018 and file a joint return. Salary-Mr. Lawson $ 90,000 Salary-Mrs. Lawson 60,000 Gross receipts from Mr. Lawson's consulting business 210.000 Expenses related to Mr. Lawson's consulting business 140,000 Interest received from municipal bonds 12,000 Itemized deductions TO What is Mr. Lawson's self-employment tax (rounded)? a. $ 5,875 b. $ 6,636 c. $10,710 d. $ 9,891 e. None of the above 14. ASSUME that self-employment tax is $10,000. What is AGI? a. $215,000 b. $227,000 c. $222,000 d. $220,000 e. None of the above NOTE: Use the following information to answer Questions 13-15. 13. Mr. and Mrs. Lawson have the following tax information for 2018 and file a joint return. Salary-Mr. Lawson $ 90,000 Salary-Mrs. Lawson 60,000 Gross receipts from Mr. Lawson's consulting business 210.000 Expenses related to Mr. Lawson's consulting business 140,000 Interest received from municipal bonds 12,000 Itemized deductions TO What is Mr. Lawson's self-employment tax (rounded)? a. $ 5,875 b. $ 6,636 c. $10,710 d. $ 9,891 e. None of the above 14. ASSUME that self-employment tax is $10,000. What is AGI? a. $215,000 b. $227,000 c. $222,000 d. $220,000 e. None of the aboveStep by Step Solution
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