In 2019, Maria records self-employed earnings of $135,000. Using the for- mat illustrated in the text, compute Maria's self-employment tax liability and the allowable income tax deduction for the self-employment tax paid. b. Express the calculation of the 2019 self-employment tax as a Microsoft Excel formula.

In 2019, Maria records self-employed earnings of $135,000. Using the for- mat illustrated in the text, compute Maria's self-employment tax liability and the allowable income tax deduction for the self-employment tax paid. b. Express the calculation of the 2019 self-employment tax as a Microsoft Excel formula.

Income Tax Fundamentals 2020

38th Edition

ISBN:9780357391129

Author:WHITTENBURG

Publisher:WHITTENBURG

Chapter9: Payroll, Estimated Payments, And Retirement Plans

Section: Chapter Questions

Problem 13MCQ

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