Question
Sonya started a self-employed consulting business in the last part of the year and earned $40,000. She had been employed as manager in a consulting
Sonya started a self-employed consulting business in the last part of the year and earned $40,000. She had been employed as manager in a consulting firm prior to starting her own business and had earned $135,000.
(a) What is Sonya's self employment tax for 2016? (Show calculations)
(b) What is Sonya's deduction for AGI for the SE tax? (Show calculations)
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Managerial Accounting
Authors: Ray H Garrison, Alan Webb, Theresa Libby
11th Canadian Edition
1259275817, 978-1259275814
