Mark earned $10,000 of profit from a sole proprietorship in 2022. If he also has $3,000,000 of salary income, how much self-employment tax will he owe?

Justin Timberlake, a single taxpayer, earns $78, 200 in taxable income and $13,600 in interest from an investment in City of Los Angeles bonds. (Use the U.S. tax rate schedule.) Required: If Justin earns an additional $40,000 of taxable income, what is his marginal tax rate on this income? What is his marginal rate if, instead, he had $40,000 of additional deductions?

Alice is single and self-employed in 2022. Her net business profit on her Schedule C for the year is $166,000. What are her self-employment tax liability and additional Medicare tax liability for 2022?

Marc, a single taxpayer, earns $64,800 in taxable income and $5,480 in interest from an investment in city of Birmingham bonds. Using the U.S. tax rate schedule for 2023, what is his average tax rate? Individuals Schedule X-Single If taxable income is over: But not over: The tax is: $          0 $  11,000 10% of taxable income $   11,000 $  44,725 $1,100 plus 12% of the excess over $11,000 $  44,725 $  95,375 $5,147 plus 22% of the excess over $44,725 $  95,375 $ 182,100 $16,290 plus 24% of the excess over $95,375 $ 182,100 $ 231,250 $37,104 plus 32% of the excess over $182,100 $ 231,250 $ 578,125 $52,832 plus 35% of the excess over $231,250 $ 578,125 — $174,238.25 plus 37% of the excess over $578,125 a)14.76 percent b)12.08 percent c)11.85 percent d)22.00 percent e)None of the choices are correct.