Sam has $80,000 of net income from his sole proprietorship in 2011. What is his deduction for AGI for self-employment taxes?
A) $9,826
B) $6,120
C) $5,652
D) $4,913
E) None of the above.

Name: Sam has $80,000 of net income from his sole proprietorship in 2011. What is his deduction for AGI for self-employment taxes? A) $9,826 B) $6,120 C) $5,652 D) $4,913 E) None of the above.
Brand: Quizplus
Rating: 4.7 (43 reviews)

Question

Quizplus · Accepted Answer

$80,000 x .9235 x .0765 employer's portion of tax = $5,652

Sam Has $80,000 of Net Income from His Sole Proprietorship