Sarah owns a business that she operates as a sole proprietorship. The business had a net profit
Question:
Sarah owns a business that she operates as a sole proprietorship. The business had a net
profit of $130,000 in 2018. This is Sarah’s only earned income.
a. How much must she pay for self-employment taxes?
b. How much can she deduct on her tax return?
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Related Book For 
Taxation For Decision Makers 2019
ISBN: 9781119497288
9th Edition
Authors: Shirley Dennis Escoffier, Karen A. Fortin
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