Jorge has $150,000 net earnings from a sole proprietorship.Jorge's self-employment tax (rounded)for 2015 is
A)$18,711.
B)$22,950.
C)$21,194.
D)None of the above.

Name: Jorge has $150,000 net earnings from a sole proprietorship.Jorge's self-employment tax (rounded)for 2015 is A)$18,711. B)$22,950. C)$21,194. D)None of the above.
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Quizplus · Accepted Answer

The self-employment tax rate for 2015 is 15.3%, which means that Jorge's self-employment tax is $150,000 x 0.153 = $22,950.

Jorge Has $150,000 Net Earnings from a Sole Proprietorship