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Compute JCs after-tax income from her practice

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Reference no: EM133014995

Problem - JC recently graduated from veterinary school and opened her own professional practice. Assume JC does not qualify for the OBI deduction. This year, her net profit was $32,000.

Required -

a. Compute JC's after-tax income from her practice assuming her self-employment tax is $4,522, and her marginal income tax rate is 22 percent.

b. What percentage of the federal tax burden on JC's business income is represented by the self-employment tax?

Reference no: EM133014995

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