Andrea is an employee of Fern Corporation. She also has her own business working as a life

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Andrea is an employee of Fern Corporation. She also has her own business working as a life coach. For 2015, Andrea's wages from Fern were $210,000. Her self-employment income was $30,000.

a. Compute the payroll, self-employment, and additional Medicare taxes for Andrea for 2015.

b. Assume the same facts except that Andrea's 2015 self-employment activities resulted in a loss of $15,000. Compute the payroll, self-employment, and additional Medicare taxes for Andrea for 2015.

c. Compute Andrea's NIIT for 2015 using wages of $210,000, self-employment income of $30,000, and NII of $20,000.

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South Western Federal Taxation 2016 Corporations Partnerships Estates And Trusts

ISBN: 9781305399884

39th Edition

Authors: James Boyd, William Hoffman, Raabe, David Maloney, Young

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