Oliver owns Wifit, an unincorporated sports store. Wifit earned $100,000 before Oliver drew out a salary of

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Oliver owns Wifit, an unincorporated sports store. Wifit earned $100,000 before Oliver drew out a salary of $60,000. What is Oliver's deduction for self-employment taxes? Group of answer choices
A. $14,130
B. $2,826
C. $7,065
D. $15,300
E. $7,650

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Contemporary Business

ISBN: 9781118161739

1st Canadian Edition

Authors: Louis E. Boone, Micheal H. Khan, DAvid L. Kurtz, Brahm M. Canzer

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Posted Date: May 11, 2022 08:17 AM

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Oliver owns Wifit, an unincorporated sports store. Wifit earned $100,000 before Oliver drew out a salary of

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The correct answer is option E ie 7650 Explanation As IRS regul... View the full answer

Contemporary Business

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