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Carrie owns a business that she operates as a sole proprietorship. The business had a...

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Accounting

Carrie owns a business that she operates as a sole proprietorship. The business had a net profit of $25,000 in 2016. This is Carrie's only earned income. 1. How much must she pay for self-employment taxes? 2. How much can she deduct on her tax return? 3. If the business had a net loss of $10,000 (instead of a $25,000 profit), how much in self-employment taxes must Carrie pay?

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