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galben [10]
3 years ago
8

Annie is self-employed and has $58,000 in income from her business. She also has investments that generated dividends of $3,000

and interest of $2,500. What is Annie’s self-employment tax for the year?
Business
1 answer:
8090 [49]3 years ago
7 0
First, you need to know the self-employment taxes:
The self-employment tax is 92.35%
Social security tax is 12.4% and Medicare tax is 2.9% = (15.3%)

Dividends and interest are not a part of the income.

58000 * 92.35% *15.3% 
Turn the percentages into decimal form in order to multiply. You can do this by moving the decimals over twice or dividing each percentage by 100. 

58000*.9235 * .153 = $8,195.

Annie's self-employment tax for the year is $8,195. 
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3 years ago
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3 0
3 years ago
An economy begins in long-run equilibrium, and then a change in government regulations makes holding money less attractive. a. (
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7 0
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Answer:

see below

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