The amount of self-employment tax that Jameson owes is $6358.
<h3>How to calculate the tax?</h3>
It should be noted that tax simply has to do with the levy that people and companies pay to the government.
Based in the information, the following can be deduced:
Sole proprietorship income = $40,000
General partnership operating income = $5,000
Interest income from general partnership = $1,200
Therefore, self employement income = 40,000 + 5,000
= 45,000
Net earnings from self employment = 45,000 - (7.65% × 45000)
= 41,557.5
Self employment tax = 41,557.5 * 15.30%
= 6,358
Therefore, the amount of self-employment tax that Jameson owes is $6358.
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