Can totally vary. Normally, it can create 1,000 dollars up to 2,000 dollars if it's a good investment.
The correct answer is A.) Take action
Have a good day :)
Answer:
$6,641
Explanation:
Roberta must pay self-employment taxes from the income she received from her truck driving business ($47,000). Self-employment taxes are similar to the taxes paid by the employers (FICA) and are subject to he same maximums.
- social security tax 12.4%
- medicare tax 2.9%
Since the self-employed are allowed certain tax deductions, the easiest way to determine taxable income is by multiplying income x 92.35%.
Taxable income = $47,000 x 92.35% = $43,404.50
- Social security taxes = 12.4% x $43,404.50 = $5,382
- Medicare taxes = 2.9% x $43,404.50 = $1,259
- total $6,641
