a. In 2021, Maria records self-employed earnings of $135,000. Using the format illustrated in the text, compute

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a. In 2021, Maria records self-employed earnings of $135,000. Using the format 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 2021 self-employment tax as a Microsoft Excel formula.

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South-Western Federal Taxation 2022 Individual Income Taxes

ISBN: 9780357519073

45th Edition

Authors: James C. Young, Annette Nellen, William A. Raabe, Mark Persellin, William H. Hoffman

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Question Posted: Jul 14, 2022 03:55 AM

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a. In 2021, Maria records self-employed earnings of $135,000. Using the format illustrated in the text, compute

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South-Western Federal Taxation 2022 Individual Income Taxes

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