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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?


Definitions:

Sentiments

Complex feelings that arise from attitudes, beliefs, and judgments, which influence how individuals perceive and interact with others.

Attitudes

A settled way of thinking or feeling about someone or something, typically reflected in a person's behavior.

Intelligence

Intelligence refers to the cognitive ability to learn from experience, solve problems, and use knowledge to adapt to new situations.

Gregariousness

The quality or state of being sociable, seeking and enjoying the company of others.

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