JC recenty graduated from veterimary school and opened her own professional practice. This year, her...
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Accounting
JC recenty graduated from veterimary school and opened her own professional practice. This year, her net profit was $22,000. COmpute JC's after-tax income from her practice assuming:
a. Compute JC's after-tax income from her practice assuming her self-employment tax is $3,109, and her marginal income tax rate is 25 percent.
b. What percentage of the federal tax burden on JC's business income is represented by the self-employment tax?
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