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Where did they get $185,000 and $24,820 and $170,848? 2023 , a taxpayer (with no employee compensation) was allocated $185,000 of self-employment income. Calculate the
Where did they get $185,000 and $24,820 and $170,848?
2023 , a taxpayer (with no employee compensation) was allocated $185,000 of self-employment income. Calculate the amount of self-employmer x the taxpayer would owe. $28,305 Reason: Taxpayer would report $170,848 of net earnings from self-employment ($185,000.9235) and owe $24,820 of self-employment tax[$160,200.153+($170,848 minus $160,200).029]. Rounded to the nearest dollar ($24,820). $22,491 Reason: Taxpayer would report $170,848 of net earnings from self-employment ($185,000.9235) and owe $24,820 of self-employment tax[$160,200.153+($170,848 minus $160,200).029]. Rounded to the nearest dollar ($24,820). $24,820 $26,140 Reason: Taxpayer would report $170,848 of net earnings from self-employment ($185,000.9235) and owe $24,820 of self-employment tax[$160,200.153+($170,848 minus $160,200).029]. Rounded to the nearest dollar ($24,820). orrectStep by Step Solution
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