1. Shawna earns $85,000 as a biologist for Berto Corporation. She also consults with other businesses on compliance with environmental regulations. During the current year, she earns $25,000 in consulting fees. Determine the amount of self-employment tax Shawna owes on her consulting income.
2. Using the information below, prepare a spreadsheet that will calculate an individual's taxable income. The spreadsheet should be flexible enough to accommodate single and married taxpayers as well as changes in the information provided below.
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Number of dependents
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2
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Salary
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$75,000
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Interest
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8,000
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Deductions for adjusted gross income
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2,800
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Deductions from adjusted gross income
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12,100
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