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

question 109

Multiple Choice

John has $55,000 net earnings from a sole proprietorship.John is also employed by a major corporation and is paid $25,000.John's self-employment tax (rounded) for 2014 is

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

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Definitions:

Cognitive-Behavioral Therapy

Psychotherapy that emphasizes changing thoughts and behaviors.

Psychoanalytic Therapy

A therapeutic approach developed by Freud, focusing on unconscious processes and early life experiences to understand and treat psychological disorders.

Changing Thoughts

The process of actively altering one's cognitive patterns to influence emotions and behaviors.

Bipolar Disorder

A mood disorder featuring manic episodes followed by depressive episodes.