Question

JC recently graduated from veterinary school and opened her own professional practice. Assume JC does not qualify for the QBI deduction. This year, her net profit was $27,900. a. Compute JC's after-tax income from her practice assuming her self-employment tax is $3,942, and her marginal income tax rate is 22 percent. b. What percentage of the federal tax burden on JC's business income is represented by the self-employment tax? Complete this question by entering your answers in the tabs below. Required A Required B Compute JC's after-tax income from her practice assuming her self-employment tax is $3,942, and her marginal income tax rate is 22 percent. (Round your intermediate calculations to the nearest whole dollar amount.) After-tax income Required A Required BΣ.

Answer 1

Answer. 1. $17476

2. 38%

Explanation;

Thank you

Date Page ins ver profit from It's practice 1/2 of self Employment tax (3942) Taxable income from practice Tax rate Income Tax Before tax Income Self Employment tax Income tax After tax income $ 27900 (1970) $25929 0.25 6482 27900 -3942 - 6482 $17476 Self Employment tax Xlo. Total tax 38% 3942X100__ 10424 (394216492)

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