Erin and Andy are married. Erin is a general partner in a successful bakery. Her share of
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Question:
Erin and Andy are married. Erin is a general partner in a successful bakery. Her share of ordinary income was $136,885. Erin also works part-time for a paper company. Her W-2 reported $36,943 in wages. Andy is a successful executive and his W-2 reported $157,000 in wages.
a. Calculate Erin’s self-employment tax.
b. Calculate the amount of Additional Medicare Tax that Erin and Andy owe based on their income.
c. Calculate Erin and Andy’s AGI.
Expert Answer:
a Calculate Erins selfemployment tax Share of ordinary income 136885 Self employment tax rate 1530 S... View the full answer
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