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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:

Expression

The process of making known one's thoughts or feelings, or the manifestation of a characteristic, genetic trait, or piece of information.

Niche Construction

The process by which organisms actively modify their environment or create new environments, affecting their own and other species' evolution.

Organisms

Living entities, such as plants, animals, fungi, and microorganisms, that are capable of reproducing and responding to environmental stimuli.

Alter

To change or modify something.

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