Which one of the following statements about the self-employment tax is false for 2023? The old-age, survivors, and disability insurance (OASDI) portion of the self-employment tax has a $160,200 net earnings ceiling, while the hospital insurance (Medicare) portion of the self-employment tax has no ceiling. The maximum self-employment tax that can be owed by a self-employed individual is 15.3% times $160,200, or $24,511. Self-employed individuals may deduct one-half of their self-employment taxes for income tax purposes. In addition to deducting one-half of the self-employment taxes for income tax purposes, self-employment net income can be reduced by the product of the net income from self-employment times one-half of the self-employment tax rate