Question
Please solve the given problem below. With detail. Your Client Logan Lawrence is self-employed. He owns and operates Logan's Landscaping. He has a self-employment income
Please solve the given problem below. With detail.
Your Client Logan Lawrence is self-employed. He owns and operates Logan's Landscaping. He has a self-employment income of $100,000 in 2021. Write a detailed letter to Logan Explaining Self Employment tax. Include the following points in your letter: A description of Social Security tax A description of medicare tax. An explanation of the wage cap for social security A review of the rates for 2021 An explanation of the employer and employee portion of self-employment tax. A calculation of Logan'sself employment tax liability for 2021 The deductibility of the employer portion of self-employment tax Your letter should be in good business form
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