Warren has $62,400 of net income from his sole proprietorship. How much is his self-employment tax on this income in 2018?
Definitions:
Subscriptions Receivable
An amount owed by customers for subscription services or products that have been provided but not yet paid for.
Paid-in Capital
Paid-in capital is the amount of money that a company has received from shareholders in exchange for shares of stock, reflecting the capital that has been invested in the company beyond its par value.
Common Stock Subscribed
A commitment by investors to purchase shares of a company's common stock, where the shares are reserved for the subscribers until payment is made.
Dividends in Arrears
Dividends on preferred shares that have not been paid in the scheduled time, accruing until they are paid out.
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