An individual is operating a business as a sole proprietorship and has revenue of $100,000...
50.1K
Verified Solution
Link Copied!
Question
Accounting
An individual is operating a business as a sole proprietorship and has revenue of $100,000 and expenses of $50,000 in a given year. The individual also earns $5,000 from an outside part-time job. What is this individuals self-employment tax liability?
a. $7,065
b. $15,300
c. $14,130
d. $16,500
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
