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?
Correct Answer:
Verified
(b)There is no dedu...View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
Correct Answer:
Verified
(b)There is no dedu...View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
Q1: The earned income credit is available only
Q7: The adoption credit based on qualified adoption
Q17: The child and dependent care credit provides
Q30: The health insurance premium assistance credit is
Q34: Tom and Anita are married,file a joint
Q35: Tyler and Molly,who are married filing jointly
Q36: ChocoHealth Inc.is developing new chocolate products providing
Q38: Suzanne,a single taxpayer,has the following tax information
Q61: All tax-exempt bond interest income is classified
Q123: Bob's income can vary widely from year-to-year