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Lara Started a Self-Employed Consulting Business in the Last Part

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Essay

Lara started a self-employed consulting business in the last part of the year and earned $60,000 of self- employment income.She had been employed as manager in a consulting firm prior to starting her own business and had earned $175,000.
(a)What is Lara's Additional Medicare Tax for 2016,if any?
(b)What is Lara's deduction for AGI for the Additional Medicare Tax?


Definitions:

Inhibitory Neurotransmitters

Chemicals released by neurons in the brain that serve to inhibit or prevent neural signals, reducing neuron activity.

Neuron

A neuron is a nerve cell that is the basic building block of the nervous system, responsible for receiving, processing, and transmitting information through electrical and chemical signals.

Serotonin

A neurotransmitter with various functions, including contributing to feelings of well-being and happiness.

Sleep

A naturally recurring state of mind and body characterized by altered consciousness, relatively inhibited sensory activity, and inhibition of nearly all voluntary muscles.

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