1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Paladinen [302]
2 years ago
12

In 2020, Miranda records net earnings from self-employment of $193,800. She has no other gross income. Determine the amount of M

iranda's self-employment tax and her for AGI income tax deduction. In your computations round all amounts to two decimal places. Round your final answers to the nearest dollar.
Business
1 answer:
lozanna [386]2 years ago
8 0

Answer:

the self employment tax on 92.35% of your net income as self employed by 15.3% = $193,800 x 92.35% = $178,974.30

Miranda will pay social security (OASDI) taxes for the first $137,700 = $137,700 x 6.2% x 2 = $17,074.80

Her Medicare taxes will be calculated using $178,974.30 x 1.45% x 2 = $5,190.25

total self employment taxes = $17,074.80 + $5,190.25 = $22,265.05

Miranda can deduct 50% of her self employment taxes from her AGI = $22,265 x 50% = $11,132.50 ≈ $11,133

You might be interested in
. A tomato farmer has used direct distribution to sell to local consumers through an area farmers' market. Last year, she sold 4
ch4aika [34]

Answer:

the farmer's total revenue when she uses the direct channel = 400 x $2.49 = $996

if she uses the indirect channel, her total revenue = 650 x $1.63 = $1,059.50

her total revenue will increase when selling to he supermarkets, but also her variable production costs will increase. This means that it is probable that her total contribution margin decreases even if total revenue decreases.

3 0
3 years ago
5. Successive US administrations have accused the Chinese government of manipulating their currency (Yuan) to
k0ka [10]

A weaker Yuan against the US dollar makes Chinese exports cheaper, increases demand, and makes US exports to China more expensive, thereby reducing the demand for US exports.

<h3>What is international trade?</h3>

International trade is the global exchange of goods and services among countries of the world, involving the use of the foreign exchange.

The three types of international trade are:

  • Export Trade
  • Import Trade
  • Entrepot Trade.

Thus, by manipulating the Yuan, the Chinese government ensures that it has a more competitive advantage over the United States in international trade.

Learn more about Chinese Yuan Manipulation at brainly.com/question/27858412

#SPJ1

5 0
2 years ago
"if i didn't have class tonight, i would save the $4 campus parking fee and spend four hours at work where i earn $10 per hour."
bixtya [17]
Opportunity Cost = It is the cost that is to be sacrificed for achieving something else.  
Given: - 
Campus parking fess (class) = $4 
Income earned through working for 4 hours in place of attending class = $40 ($10/hr) 
 Solution: -  
Opportunity cost of attending class = $4 + $40 = $44.
3 0
3 years ago
Difference between relative and absolute scarcity
Arisa [49]

Answer: Relative scarcity could be described as that where the resources are limited in supply for a short while, due to manufacturing or supply challenges.

Absolute scarcity could he described as where supply is naturally limited. No possibility of the supply increasing.

Explanation:

Relative scarcity could be described as that where the resources are limited in supply for a short while, due to manufacturing or supply challenges.

Absolute scarcity could he described as where supply is naturally limited. No possibility of the supply increasing.

In relative scarcity, there is a probability of the supply to be made available later while in absolute, there is no possibility of it happening.

7 0
2 years ago
Five friends are going to the theater. they have purchased a row of five seats with an aisle on either end. james doesn't want t
Mandarinka [93]
Jill, Betty, Herb, James, Bob
7 0
3 years ago
Other questions:
  • When you retire 45 years from now, you want to have $1.25 million saved. You think you can earn an average of 7.6 percent on you
    13·1 answer
  • Indicate whether each of the items would increase, decrease or no effect on cash. Assume all items are cash transactions. Cash E
    11·1 answer
  • The gross requirements of a given component part are determined from ______________________.
    9·1 answer
  • Following a self improvement plan takes a lot of discipline.<br> a. True<br> b. False
    12·2 answers
  • When a person places him or herself in a position in which he or she might be exploited by another, and does so willingly with t
    5·1 answer
  • Kevin, who has liability limits of $20,000/$40,000/$20,000 and a $500 collision deductible, is involved in an accident. Due to h
    15·1 answer
  • About _____ percent of adults over age 90 have lost all functional vision.
    10·1 answer
  • Acquisition cost, as well as capital improvements, will​
    11·1 answer
  • Depending on a person's _____, he or she may be held to a higher standard of care.
    7·1 answer
  • Which calculation is needed to assess the component pieces of the operating section using the direct approach for the amount col
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!