Beau Earned $25,000 of Net Earnings from a Tax Preparation

question 56

Essay

Beau earned $25,000 of net earnings from a tax preparation business that he runs during tax season.He also earned a salary of $100,000 from his full-time job.How much self-employment tax must he pay for 2016? Round calculations to the nearest dollar)

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Definitions:

Outgoing

Personality trait characterized by openness, sociability, and a high level of comfort in interacting with others.

Introverted

Characterized by a preference for focusing on internal thoughts and feelings rather than seeking external stimulation or engaging extensively with others.

Depressive

Pertaining to depression, often used to describe symptoms or conditions related to mood disorders, including feelings of sadness, hopelessness, and a lack of interest in life.

Terrible Person

A description often used for an individual who is considered morally reprehensible or behaves in a manner grossly deviant from societal norms.