Shante is employed by a local pharmaceutical company where she earned $48,000 in 2015. During the year, she also had self-employment income of $18,000. Her self-employment tax rounded to the nearest dollar is:

Question

Quizplus · Accepted Answer

The self-employment tax is 15.3% of net self-employment income. Shante's net self-employment income is $18,000, so her self-employment tax is $18,000 x 0.153 = $2,754.

Shante Is Employed by a Local Pharmaceutical Company Where She