John Has $55,000 Net Earnings from a Sole Proprietorship

question 84

Multiple Choice

John has $55,000 net earnings from a sole proprietorship.John is also employed part-time by a major corporation and is paid $25,000.John's self-employment tax (rounded) for 2015 is

• A)$3,886.
• B)$4,208.
• C)$7,771.
• D)$8,415.

---

Definitions:

Georgia

A state in the southeastern United States known for its diverse geography, ranging from mountains to beaches, and its rich history, including its role as a Confederate state during the Civil War and as a center of the civil rights movement.

Cherokee

A Native American people originally from the southeastern United States, known for their rich culture and history.

Supreme Court's Decision

The final ruling or judgment made by the Supreme Court, which has the ultimate judicial authority to interpret and apply the law in federal cases.

Cherokee

A Native American people originally from the southeastern United States, known for their rich history, culture, and forced removal to Indian Territory, known as the Trail of Tears.