Your client Lawson Logan has self-employment income of $70,000 in 2021. Write a letter to Lawson explaining self-employment tax. Additionally, calculate Lawsons self-employment tax and the deductible portion of self-employment tax. Include the following points in your letter. (50%)

The social security tax rate

The medicare rate

The social security wage cap

The employer portion of social security

The employee portion of social security

The employer portion of medicare

The employee portion of medicare

The deductible portion of self-employment tax.