Question 63 of 75. A sole proprietor may be eligible for: O A deduction of up to 20% of gross income from all sources. A deduction of up to 20% of qualified business income. A more favorable tax rate of 0%, 15%, or 20% on net profit from business. A flat corporate tax rate of 21% on net profit from business. Mark for follow up Question 64 of 75. the All of the following are self-employed taxpayers EXCEPT: O Markus, an independent consultant who performs services for a manufacturing firm in exchange for a fee. Janice, the owner and operator of a bed and breakfast. She provides daily cleaning and laundry services in addition furnished rooms in exchange for rent Nick, a driver for a rideshare service. He received a Form 1099-K reporting payments from credit and debit card transactions. Mya, a home health nurse who works for a health care agency that determines when and how her work should be performed. Mark for follow up Question 65 of 75. Under the CARES Act, a sole proprietor may be eligible for all of the following EXCEPT: Paycheck Protection Program (PPP loan). PPP loan forgiveness Economic Impact Payment. Pandemic Unemployment Assistance. Mark for follow up Question 66 of 75. A taxpayer may be eligible to deduct which of the following as an allowable business expense in Part II of Schedule C, Profit or Loss from Business? Half the cost of their group term life insurance. Half the cost of meals purchased while traveling for business. An amount contributed to their individual retirement plan. The cost of health insurance premiums for themselves and their families. Mark for follow up Question 67 of 75. Fabian (16), will be claimed as a dependent on his parents' tax return. His only income during the year consisted of $10,000, which was his net profit from a lawn mowing business. What is Fabian's self-employment tax? O $0 $383 $1,413 $1.530 Mark for follow up