Question

In 2021, Miranda records net earnings from self-employment of $158,500. She has no other gross 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 answer to whole number

Answer 1

We don't have the tax rate so I'll just explain how to do it

Explanation:

158,500 multiplied by ( a unit of one subtracted (-) from the percentage of tax rate in decimal form ) is the total of money Miranda made after tax