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

question 35

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 2015,if any?
(b)What is Lara's deduction for AGI for the Additional Medicare Tax?

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Definitions:

Leading

The act of guiding or influencing others to achieve organizational or group goals through motivation and leadership skills.

Resources

Assets, materials, and inputs required by an organization or individual to achieve objectives.

Legitimate Power

is a type of authority that is recognized and accepted by members of an organization, stemming from a formal position or role.

Formal Authority

The power or right to give orders, make decisions, and enforce obedience, typically within an organizational hierarchy.