Pat generated self-employment income in 2019 of $76,000.The self-employment tax is:

Question

Quizplus · Accepted Answer

The self-employment tax rate for 2019 is 15.3%. To calculate the self-employment tax, Pat would take the $76,000 of self-employment income and multiply it by 15.3%.

$76,000 x 0.153 = $11,628

Therefore, the self-employment tax due for 2019 is $11,628. Since this is not an option, we would select the answer that is closest, which is C ($10,738.46).

Pat Generated Self-Employment Income in 2019 of $76,000