Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. in 2023, miranda records net earnings from self-em

In 2023, Miranda records net earnings from self-employment of $180,000. She has no other income....

50.1K

Verified Solution

Question

Accounting

In 2023, Miranda records net earnings from self-employment of $180,000. She has no other income. Determine the amount of Miranda's self-employment tax and her for AGI income tax deduction.
In your computations, round all amounts to two decimal places. Round your final answers to the nearest dollar.
Miranda's self-employment tax is $fill in the blank 1
and she has a $fill in the blank 2
deduction for AGI.The tax on self-employment income is levied to provide Social Security and Medicare benefits (old age, survivors, and disability insurance and hospital insurance) for self-employed individuals.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Finance
1.2K views

40. Calculate the modified duration of a 10-year 7% semi-annual coupon bond priced at 97.50. a. 7.316 b....

Finance
1.2K views

Analyze the 20-year, 8% coupon rate (annual payment), $1,000 par value bond. The bond currently sells...

Advance Math
1.2K views

y′ = t, y(0) = 1, solution: y(t) = 1+t2/2 y′ = 2(t + 1)y, y(0)...

Chemistry
1.2K views

Oxy-myoglobin was measured at wavelength of 417 nm with molar absorptivity of 12,800 M^-1cm^-1. Met-myoglobin was...

Basic Math
1.2K views

The proportion of public accountants who have changed companies within the last three years is to...

Physics
1.2K views

What is the torque in Nm on the cylinder when mass m is accelerating down...

Basic Math
1.2K views

Classify the triangle as acute right or obtuse Also classify it as equilateral isosceles or...

Algebra
1.2K views

6 5 4 3 2 1 6 y 54 3 2 H 2 1 2...

Accounting
1.2K views

Crane inc, is a manufacturer of quality shoes. The company has always used a plant-wide...

Accounting
1.2K views

Mobility Partners makes wheelchairs and other assistive devices. For years it has made the rear...

Accounting
1.2K views

Required: Compute Apex Company's free cash flow for the current year. (Negative amount should be...

Accounting
1.2K views

El gasto total del impuesto sobre la renta para una corporacin consiste en ...