JC recently graduated from veterinary school and opened her own professional practice. This year, her...
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Accounting
JC recently graduated from veterinary school and opened her own professional practice. This year, her net profit was $32,000.
Compute JCs after-tax income from her practice assuming her self-employment tax is $4,522, and her marginal income tax rate is 22 percent.
What percentage of the federal tax burden on JCs business income is represented by the self-employment tax?
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