FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Tax Drill - Self-Employment Tax
In 2023, Miranda records net earnings from self-employment of $180,000. She has no other income. Determine the amount of Miranda's
self-employment tax and her for AGI income tax deduction.
In your computations, round all amounts to two decimal places. Round your final answers to the nearest dollar.
Miranda's self-employment tax is $
and she has a $
deduction for AGI.
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Transcribed Image Text:Tax Drill - Self-Employment Tax In 2023, Miranda records net earnings from self-employment of $180,000. She has no other income. Determine the amount of Miranda's self-employment tax and her for AGI income tax deduction. In your computations, round all amounts to two decimal places. Round your final answers to the nearest dollar. Miranda's self-employment tax is $ and she has a $ deduction for AGI.
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