Sonya Started a Self-Employed Consulting Business in the Last Part

question 56

Essay

Sonya started a self-employed consulting business in the last part of the year and earned $40,000.She had been employed as manager in a consulting firm prior to starting her own business and had earned $125,000.
(a)What is Sonya's self employment tax for 2015?
(b)What is Sonya's deduction for AGI for the SE tax?

Determine the factors that do not contribute to or negatively impact labor productivity growth.

Understand the principles of loan amortization and the calculation of periodic payments and interest.

Calculate and interpret the effective annual rate (EAR) of a loan with different compounding periods.

Distinguish between simple and compound interest and understand the impact of compounding frequency on the total interest paid.

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Definitions:

Supervisor Signature

An endorsement or approval by a supervisor or higher authority, often required on official documents.

Documentation

The process of recording the details of a particular process or event, or the materials that provide evidence or information.

Immunization Schedule

A detailed plan outlining the timing and type of vaccines to be administered, aimed at preventing infectious diseases.

Infants

Refers to young children typically under one year of age, during the earliest stages of their lives.