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Rufus, who is single, is a self-employed electrician as well as an employee of Shock It, Inc. His self-employment net income is $35,000, and he
Rufus, who is single, is a self-employed electrician as well as an employee of Shock It, Inc. His self-employment net income is $35,000, and he received a W-2 from Shock It for wages of $25,000. He is covered by his employer's pension plan, but the employer does not offer a health plan for him. Calculate of much of his self-employed health insurance premium he can deduct for this year. How much of his self-employment taxes would be deductible? Show all work, and explain each answer.
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