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

question 33

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 2014,if any?
(b)What is Lara's deduction for AGI for the Additional Medicare Tax?


Definitions:

Alkene

Hydrocarbons that are unsaturated and possess a minimum of one double bond between carbon atoms, identified by the formula CnH2n.

3-Methylpent-2-Ene

An unsaturated hydrocarbon with the formula C6H12, highlighting a branch and a double bond in its structure.

Hydrogenation

A chemical reaction that involves the addition of hydrogen (H2) across unsaturated bonds in an organic compound, typically to reduce or saturate it.

PVC

Polyvinyl chloride, a synthetic plastic polymer used in a wide array of products, including pipes, cables, and clothing.

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