In 2015, Wilma Ways sole proprietorship, WW Bookstore, generated $120,000 net profit. In addition, Wilma recognized a
Question:
a. Which of these income items are subject to self-employment tax?
b. Compute Wilma’s 2015 self-employment tax.
c. Compute Wilma’s 2015 taxable income from her bookstore activity.
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Related Book For
Principles Of Taxation For Business And Investment Planning 2016 Edition
ISBN: 9781259549250
19th Edition
Authors: Sally Jones, Shelley Rhoades Catanach
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