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

question 27

Essay

Lara started a self-employed consulting business in the last part of the year and earned $60,000 of net 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 2013,if any?
(b)What is Lara's deduction for AGI for the Additional Medicare Tax?


Definitions:

Extraverted

Refers to a personality trait characterized by an outgoing, sociable, and energetic nature.

Interaction

The process by which two or more entities or phenomena act upon each other or bring about changes in each other.

Heritability

A measure of how much of the variation in a trait among individuals within a population can be attributed to genetic differences.

Dizygotic Impact

Refers to the effect or influence of being born as dizygotic twins, that is, twins developed from two different eggs fertilized by two different sperm.

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