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

question 53

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 $135,000.
a.What is Sonya's self employment tax for 2019?
b.What is Sonya's deduction for AGI for the SE tax?

---

Definitions:

Ethical Concerns

Issues or situations that require a person or organization to choose between alternatives that must be evaluated as right (ethical) or wrong (unethical).

Genetic Factors

Inherited elements from parents that influence an individual's traits, characteristics, and susceptibility to certain conditions.

Schizophrenia

A complex, long-term medical illness, affecting about 1% of Americans, characterized by disturbances in thought, perception, and behavior, including hallucinations, delusions, and disorganized thinking.

Concordance Rate

The statistical measure indicating the likelihood of two related individuals both exhibiting a particular trait or disorder.