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Carrie owns a business that she operates as a sole proprietorship. The business had a net profit of $25,000. This is Carrie's only earned income.

a. How much must she pay for self-employment taxes?

b. How much can she deduct on her tax return?

c. If the business had a net loss of $10,000 (instead of a $25,000 profit), how much in selfemployment taxes must Carrie pay?

Taxation, Accounting

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