Baily owns and operates Ben’s Red Truck Shop (BRT), which is a sole proprietorship. She has self-employment income of $150,000. How much self-employment tax does she owe 2020? $21,092. $21,194. $22,194. $2 2,950.

Baily owns and operates Ben’s Red Truck Shop (BRT), which is a sole proprietorship. She has self-employment income of $150,000. How much self-employment tax does she owe 2020? $21,092. $21,194. $22,194. $2 2,950.

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter1: Federal Income Taxation—an Overview

Section: Chapter Questions

Problem 51P: Darrell is an employee of Whitneys. During the current year, Darrells salary is 136,000. Whitneys...

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Question

Baily owns and operates Ben’s Red Truck Shop (BRT), which is a sole proprietorship. She has self-employment income of $150,000. How much self-employment tax does she owe 2020?

		$21,092.
		$21,194.
		$22,194.
		$2 2,950.

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