Kiyara (single) is a 50 percent shareholder of Guardian Corporation (an S Corporation). Kiyara does not do
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Question:
a. What is Kiyara's self-employment tax liability?
b. Assuming the income allocated to Kiyara is qualified business income, what is Kiyara's deduction for qualified business income? Assume Kiyara's share of wages paid by Guardian Corporation is $56,500 and her share in the unadjusted basis of qualified property used by Guardian was $213,000.
c. What is Kiyara's net investment income tax liability (assume no investment expenses)?
d. What is Kiyara's additional Medicare tax liability (include all earned income in computing the tax)?
Related Book For
Smith and Roberson Business Law
ISBN: 978-0538473637
15th Edition
Authors: Richard A. Mann, Barry S. Roberts
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