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:

External Environments

Factors, conditions, and influences that exist outside of an organization and can impact its performance and strategies.

Organizational Strategy

A plan of action designed to achieve a long-term or overall aim within an organization.

Designing Organizations

Designing organizations involves structuring and aligning the various parts of an organization in a way that matches its strategy, enhances efficiency, and facilitates management and operational processes.

Departmentalization

The process of dividing an organization into different departments or units, each specializing in a specific area of operation.