JC recently graduated from veterinary school and opened her own professional practice. Assume JC does not qualify for the QBI deduction. This year, her net profit was $25,600.

Required:

1. Compute JC’s after-tax income from her practice assuming herself-employment tax is $3,617, and her marginal income tax rate is 22 percent.
2. What percentage of the federal tax burden on JC’s business income is represented by the self-employment tax?

Answer rating: 100% (QA)

1 Net profit 25600 Onehalf of selfemployment tax 361750 1809 rounded Taxable ... View the full answer