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Complete the statements below regarding self-employed individuals and the self-employment tax for 2020. Individuals with...

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Accounting

Complete the statements below regarding self-employed individuals and the self-employment tax for 2020.

Individuals with net earnings of $........................fill in the blank 1 or more from self-employment are subject to the self-employment tax. The self-employment tax for 2020 applies at a rate of 15.3 % of self-employment income up to $..........................fill in the blank 3.

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