Question: Liz and Erica each own a clinic, Liz's clinic is an S corporation, and Erica's clinic is a proprietorship. Each clinic earns $100,000, and Liz treats $50,000 of her profits as wages on which she owes Social Security taxes. Which of the following shows the effect on Social Security for Liz and Erica? A Erica pays twice the Social Security taxes that Liz pays and Erica will receive more Social Security benefits upon retirement but not twice as much. B Erica pays twice the Social Security taxes that Liz pays and both will receive equal Social Security benefits upon retirement. C Liz and Erica pay equal Social Security taxes but receive different Social Security benefits upon retirement. D Erica pays twice the Social Security taxes that Liz pays and Erica will receive twice the Social Security benefits upon retirement.