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Lara started a self- employed consulting business in the last part of the year and earned $60,000 of self- employment earnings. She had been employed as manager in a consulting firm prior to starting her own busines had earned $175,000.
a. What is Lara's Additional Medicare Tax for 2018, if any?
b. What is Lara's deduction for AGI for the Additional Medicare Tax?
Intangible
An asset that does not have physical substance yet is often valuable, such as intellectual property or goodwill.
Security Interest
A legal claim or right granted to a creditor over the borrower's assets as a security for the repayment of a loan.
Repossessed Collateral
Assets that have been taken back by the lender from the borrower, usually due to default on a loan.
Security Interest
A security interest is a legal claim or entitlement provided to a lender or creditor over the borrower's assets, serving as collateral for the repayment of a loan or obligation.
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